Housing prices in Azerbaijan are projected to rise further in the coming months of 2025, according to parliamentary deputy Vugar Bayramov, a member of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.
Speaking to BAKU.WS, Bayramov said the increase is being driven by several factors.
“First, we are seeing an overall surge in the regional real estate market. At the same time, the Russia-Ukraine war has affected the South Caucasus, intensifying demand,” he explained.
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Bayramov noted that the trend is not limited to Azerbaijan. Prices have also been climbing in Tbilisi and Yerevan. “This heightened demand has become one of the main reasons for the price hike,” he added.
The lawmaker pointed out that unlike in developed economies, Azerbaijanis have relatively few options for preserving and growing their savings.
“In countries with more developed financial systems, people invest in stock markets, use various investment tools, or participate in savings projects. Here, citizens mostly channel their funds into apartments, land, gold, or keep money in banks or at home. If more capital were directed into the stock market, it would ease pressure on the housing sector and give people greater opportunities for savings,” Bayramov said.
At present, however, there are no visible factors that could drive prices downward.
“For prices to fall, demand would need to decrease. But in the coming months of 2025, we expect housing costs to continue climbing,” Bayramov concluded.
