Land prices in Baku vary significantly by area in the real estate market, and these prices constantly change according to market dynamics. Looking at sales offers, it is seen that the most expensive land plots are primarily concentrated in the central and near-central districts of the capital.
Regarding the topic, Vugar Oruc, chairman of the Azerbaijan Appraisers Association, stated to Milli.Az that land prices are updated annually depending on demand and supply.
According to him, the price of 1 sot (100 m²) of land located around Fountain Square and its surroundings in the Sabail district is currently 1,150,000 manat.
"In Zarifa Aliyeva street, which also belongs to the same district, 1 sot of land is offered at 1,350,000 manat. The price of land plots located on Neftchilar Avenue in the Sabail district, as well as in the Yeni Bulvar area of the Khatai district, ranges between 600,000 and 650,000 manat.
In the Narimanov district, on Mammad Araz (formerly Teymur Aliyev) street, 1 sot of land is valued between 400,000 and 450,000 manat. On Yusif Safarov street in the Khatai district, this figure is 500,000-550,000 manat. On Ataturk Avenue in the Narimanov district and on Huseyn Javid Avenue in the Yasamal district, land prices are at the level of 400,000-450,000 manat. Around Ag Sheher in the Khatai district, 1 sot of land is sold for between 500,000 and 550,000 manat."
Vugar Oruc noted that the prices given are average market indicators and may vary depending on the specific address, location, and purpose.
"It is quite difficult to find land in these areas, and usually such prices are formed during the purchase of land plots for the construction of high-rise buildings and demolition sites. Such land plots are mainly offered not on real estate websites but through individual realtors."
