New Demolition in Baku – How Much Will Rental

New Demolition in Baku – How Much Will Rental Prices Rise? VIDEO

Old, dilapidated buildings are set to be demolished.

According to Xəzər TV, based on the decision of the Cabinet of Ministers, demolition is planned for 63 residential buildings in Surakhani, 226 in Nasimi, 99 in Khatai, 219 in Narimanov, 131 in Nizami, 18 in Yasamal, 41 in Sabail, and 297 in Pirallahi.

The demolition process will also impact the real estate market.

Real estate expert Elnur Farzaliyev states that the demand for rental housing in these areas will increase significantly.

Experts note that the high demand will inevitably lead to artificial price hikes. Prices are expected to rise by approximately 25-30%.

The overall housing market will also experience price increases.

Experts suggest that a phased demolition process would help stabilize prices.

For more details, watch the video report.

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