Baku, Azerbaijan | July 17, 2025
In the heart of Azerbaijan’s capital, luxury real estate is hitting new heights — quite literally and financially. The most expensive apartments currently on the market in Baku are located in architectural landmarks that have come to define the city’s modern skyline. Properties in developments such as Crescent Residences, Port Baku Residence, Park Hill Terrace, and Hayat Palace are now commanding prices that rival small fortunes.
According to recent data from the property market, apartments ranging from 246 to 772 square meters, with four to eight rooms, are listed for anywhere between 2.6 million and a staggering 5.6 million manats. The highest-priced listing? A four-bedroom, 375-square-meter apartment in Crescent Residences going for 5.61 million manats.
Real estate expert Elnur Farzaliyev says such pricing isn’t accidental.
“Properties in buildings considered icons of the city are always priced at a premium,” he explains. “Despite the million-manat price tags, there is constant demand from buyers ready to invest in these high-profile assets.”
These “visionary” residential projects, as Farzaliyev calls them, do more than offer luxury living — they help shape Baku’s identity and set price benchmarks far beyond the reach of average citizens. Many buyers, he notes, are not just affluent locals but foreign investors looking to capitalize on the prestige and future growth potential of the city’s elite housing stock.
And apartments are just part of the story. The expert also points to private villas in central Baku that are priced as high as 20 million manats, especially in neighborhoods with exclusive, low-density developments. “Their market value is defined by location and construction quality, often far exceeding that of even the top-end apartment complexes,” Farzaliyev says.
What drives these sky-high prices isn’t just location — it’s also the lifestyle. From panoramic views of the Caspian Sea to expansive terraces, in-house concierge services, and luxury retail access, these residences offer a standard of living aimed squarely at the global elite. Over the past three years, apartments with sea views and outdoor living spaces have tripled in price, reflecting both growing demand and limited availability.
Price per square meter? Crescent Residences leads the pack at 14,900–17,000 manats per square meter, followed by Port Baku Residence at around 12,900. These figures place Baku’s most exclusive homes firmly among the priciest in the region — and show no signs of slowing down.
