BAKU September 6, 2025
Each summer, Baku transforms into a global racing capital as Formula 1 cars roar through its historic streets. Alongside the spectacle, a parallel economy comes alive: residents turn their central apartments into high-priced VIP boxes.
Balconies overlooking the track have become some of the city’s hottest tickets. The roar of the engines is sharper than in the grandstands, and fans can enjoy the race without leaving the comfort of a living room. But this exclusive view comes at a premium.
Prices Triple During Race Week
On a normal day, a central Baku apartment might rent for 70–100 manats per night. During Grand Prix week, prices skyrocket to 200–300 manats per night — sometimes higher. Fully furnished apartments are offered, but the real value is the panoramic view of Formula 1 at full throttle.
Demand is so strong that supply can’t keep up. International fans eager for adrenaline — and Instagram-ready balcony shots — are quick to snap up these “racing residences.”
Tourism on the Fast Track
According to tourism agency representative Gulnar Mustafayeva, the impact of Formula 1 extends well beyond rental income, reports ITV.
“Formula 1 is watched by over half a billion viewers worldwide. Hosting such a prestigious competition in Azerbaijan is crucial for promoting our country and our capital. It directly boosts tourism potential and helps shape a positive image of the republic,” she says.
Speed as an Investment in Image
For Azerbaijan, Formula 1 is more than just sport. It’s a showcase of Baku’s energy and ambition — a celebration for fans, a business opportunity for residents, and an invaluable marketing tool for the nation.
