BAKU, September 8
The land market in Baku and across the Absheron peninsula is experiencing a sharp correction as supply outpaces demand, pushing prices in some areas down to 2,000 manats per 100 square meters (≈0.025 acres) – (Sotka).
According to reporting by local broadcaster ATV, the decline is concentrated in plots classified as agricultural land, which face strict legal barriers to residential construction.
“Demand for plots without a state registry extract has collapsed, and prices inevitably followed,” realtor Taleh Mammadli told local media.
In the Bina settlement, land with only municipal documents that once sold for 5,000 manats per 100 square meters now fetches around 3,000. Similar trends are reported in Mehdiabad, Binagadi, and Ramana. By contrast, land with full registry documentation is rising in value.
Bus driver Vusal Mammadov, who follows the real estate market, said residents have lost interest in agricultural land.
“You cannot connect gas, water, or electricity, so buyers simply walk away. That’s why prices have fallen so sharply in Mehdiabad and other areas,” he explained.
Real estate expert Elnur Farzaliyev estimates there are about 500,000 private homes and land plots in Baku and Absheron where owners lack proper registry extracts. He emphasized that legal construction requires alignment between land classification and intended use.
“If the plot is registered as settlement land, only then can you design a project, obtain approvals, and connect utilities,” he noted. Farzaliyev also urged buyers of existing houses to verify connections to utilities and ensure they are formally transferred.
The widening gap between properly documented land and agricultural plots highlights a growing urban planning challenge in Azerbaijan’s capital region — where legal uncertainty and infrastructure limits are reshaping the property market.
