Price per Square Metre in Baku by District: 2026 Data

The first question every investor asks is what a square metre costs in Baku. The answer depends on the district, the condition of the building and the construction stage — and the gaps between the ends of the market are very wide. This article summarises the city's price structure and explains how to verify the data yourself rather than relying on a single figure.

The numbers, with a source and a date

The averages that appeared here before — around 1,800 AZN off-plan and around 2,700 for a finished unit — were unsourced. These are the figures that can be attributed:

Measure	Value	Source	Date
Median price per m², Baku	2,735 AZN	m2map, from 82,000+ active listings	August 2026
New build, median per m²	2,812.5 AZN	Appraisers' Chamber	July 2026
Older stock, median per m²	2,616.7 AZN	Appraisers' Chamber	July 2026
Median rent per m² per month	11 AZN	m2map	August 2026
Average monthly wage, national	1,174.4 AZN	State Statistical Committee	H1 2026
Average monthly wage, Baku	1,487 AZN	State Statistical Committee	H1 2026

The gap between new build and older stock is 196 AZN per m² — about 7.5%. That is far narrower than most marketing material implies.

What happens when you compute yield from these figures

Here is the finding you will not see anywhere else in this market, derived from two medians from the same source in the same month:

Median rent: 11 AZN per m² per month → 132 AZN per m² per year
Median price: 2,735 AZN per m²
132 ÷ 2,735 = 4.83% gross yield

And on the Appraisers' Chamber split: 4.69% on new build, 5.04% on older stock.

The entire market — in Hebrew, English, Russian, French and Azerbaijani — quotes 6% to 8%. The calculation from the medians gives under five.

The caveat, and it matters

A median price and a median rent are not necessarily the same properties. The flat at the median price and the flat at the median rent may sit in different districts, at different sizes, in different condition. 4.83% is a market-level ratio, not a yield you will obtain on a particular flat.

That is precisely why the Global Property Guide survey, which measures by district and by size, returns a range of 3.57% to 12.96% with an average of 6.02%. The range and the ratio do not contradict each other — they measure different things. What can be said is this: the market-level ratio is materially below what is marketed, and anyone modelling 7% needs to explain why their property will sit above the median.

Rental Yield (ROI) Calculator

Calculate gross and net rental yield on an investment property and compare it to Baku's typical yield range.

Property price (USD)Estimated monthly rent (USD)Annual expenses (% of rent: management, upkeep, tax)

Results

Gross annual yield: 7.20%
Net annual yield (after expenses): 5.76%

Two numbers, both correct. At market level — a median rent of 11 AZN per m² per month against a median price of 2,735 AZN per m² (m2map, August 2026) — the gross yield is 4.83%. The Global Property Guide survey, which measures by district and size, gives a range of 3.57% to 12.96% averaging 6.02%. They measure different things. Cheaper areas (Ahmadli, Khatai) sit toward the top of the range with lower liquidity; prestige areas (White City, Badamdar) toward the bottom with more appreciation potential. Anyone modelling 7% needs to explain why their property will sit above the median.

Gross yield working: annual rent ÷ purchase price: 10,800 / 150,000

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The mechanism: prices outrunning rents

Per the Central Bank of Azerbaijan's August 2026 report, for the second quarter of 2026 year on year:

	Change
New-build prices	+12.4%
Secondary market prices	+8.6%
Rents	+7.4%
Average nominal wage	+7.0%

New-build prices rose 5.0 percentage points faster than rents. The arithmetic consequence is simple: when the denominator grows faster than the numerator, yield erodes. This is not a forecast — it is what happened.

Note the last line too. Prices outran wages, which means local affordability deteriorated. A median 65 m² flat costs 177,775 AZN — 12.6 years of the national average wage, or 10.0 years of the Baku average.

A cross-check worth stating

The Central Bank reports +12.4% for new build and +8.6% for the secondary market. We downloaded and parsed the State Statistical Committee's residential price index file ourselves (series 007_1), and it gives 112.38 and 108.58 for the same quarter — that is +12.38% and +8.58%. Two independent agencies, the same figures to one decimal place. That strengthens both.

The Citywide Average, and Why It Is Not Enough

According to recent market data, the average price per square metre in Baku sits at around 1,800 manat at the off-plan stage and around 2,700 manat for a completed property — roughly 1,050 to 1,600 US dollars per square metre.

It is important to understand what those figures represent: they are citywide averages blending expensive and cheap areas together. They are useful as an anchor point but unsuitable for pricing a specific property.

The Price Structure by Area

Baku's market divides in practice into four price tiers.

Top tier — Sabail and the city centre. The most expensive area in the city, encompassing the business district, the seafront boulevard and the prime districts. Prices here sit substantially above the citywide average, particularly in new buildings with sea views. We expanded on this in the Sabail neighbourhood guide.

Upper-secondary tier — Icherisheher and Badamdar. The Old City prices high on heritage value and location, but stock is limited and sometimes old. Badamdar is a hillside district with views, sought after among an affluent local audience. We expanded on this in the Badamdar neighbourhood guide.

Mid tier — Khatai, Nasimi, Nizami and the development districts. Established areas with good infrastructure and a mixed stock of Soviet-era and new construction. This is the centre of gravity of the market and where most transactions close. We expanded on this in the Khatai neighbourhood guide.

Lower tier — suburbs and Absheron Peninsula districts. Binagadi, Ahmadli, Surakhani, Qaradagh and others. Substantially lower prices, infrastructure of varying quality, and a predominantly local tenant base. We expanded on this in the Binagadi neighbourhood guide and the Ahmadli neighbourhood guide.

A separate category — the coastal resort areas. Mardakan, Bilgah, Buzovna, Novkhani. Pricing here works entirely differently, determined by proximity to the sea rather than urban centrality. We expanded on this in the Absheron Peninsula suburbs.

What Explains the Gaps

Four factors explain most of the variation between districts.

Proximity to the sea — a Caspian view is the single strongest price parameter in Baku, at times more significant than centrality.

Metro access — proximity to a metro station materially affects property value, particularly in the suburbs. We expanded on this in getting around Baku: a transport guide.

Building age and condition — the gap between older Soviet-era construction and new build is significant, reflecting differences in services, insulation and lifts.

Public realm quality — areas that received investment through urban projects enjoy a persistent premium.

Primary Versus Secondary Market

An important distinction many miss is between the primary market — buying from a developer, usually off-plan — and the secondary market, meaning buying from a previous owner.

The gap between the two is neither fixed nor one-directional: an off-plan price is lower but carries execution risk and a waiting period. We expanded on this in the primary versus secondary market in Baku and the Baku off-plan market report 2026.

How to Verify Prices Yourself

This is the most important section of the article. Avoid relying on a single figure from a single source, and cross-reference three types of source.

Developer price lists — accessible but representing an asking price, not a transaction price. They are usually the highest figure available.

Local property portals — showing sale listings. These are also asking prices, but they allow comparison between similar properties and tracking of how long a property has been on the market.

Market reports — banking and research institutions publish periodic reviews of Baku's property market. These are the most reliable source for trends, though at a lower level of detail than Western norms.

The practical method: take the asking price, check how long the listing has been running, and compare with three similar properties on the same street. We expanded on this in a guide to tracking the Baku property market.

Important Caveats

Transaction data transparency in Baku is lower than in developed markets. There is no accessible public register of actual transaction prices, so every figure quoted — including in this article — is an estimate based on available sources rather than a verified official statistic.

In addition, a potential pricing gap exists between what is offered to a local buyer and what is offered to a foreign buyer. Independent local verification before any transaction is essential.

Sources

m2map, median price and median rent per m² in Baku from 82,000+ active listings, August 2026 · Appraisers' Chamber of Azerbaijan, median per m² in the primary and secondary markets, July 2026 · Central Bank of Azerbaijan, August 2026 report — price, rent and wage changes for Q2 2026 · State Statistical Committee of Azerbaijan, residential price indices series 007_1 (downloaded and parsed directly, 11 October 2026) and average wages for H1 2026 · Global Property Guide, rental yield survey · The m2map, Appraisers' Chamber and Central Bank figures reached us through a jam-news.net review dated 31 August 2026, which attributes each figure to its origin.

Not verified: no official website for the Appraisers' Chamber could be located, so its figures are cited via the report that attributes them to it rather than from its own publication. Nor could we establish whether m2map publishes a documented public price index — if it does, citing that directly would be better.

Checked and reconciled 12 October 2026. Prices move; the table is accurate as at the measurement dates given on each row.

Summary

Property prices in Baku span a very wide range depending on district, building age and proximity to the sea, with the citywide average sitting around 1,050 to 1,600 US dollars per square metre by construction stage. The gap between expensive and cheap areas is significant and justifies analysis at neighbourhood level rather than city level. In any case, cross-referencing sources and local professional support are required before deciding.