12:40 - 23.10.2023

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October 23, Fineko/abc.az. Starting from next year, land prices in Baku are expected to increase.

Real estate experts believe that due to the lack of land in the center of the capital, in the 1st and 2nd zones, construction companies prefer the outskirts for the construction of high-rise buildings, ABC.AZ reports. And this leads to increase in land prices in these areas.

Real estate expert Nofal Guliyev said that sometimes housing and communal services are not interested in demolishing old residential buildings in the central parts of the city and building high-rise buildings in their place. The reason is that in some cases HBC cannot agree with residents on compensation and the amount of monthly rent. Therefore, construction companies refuse to carry out such projects and prefer to build buildings outside the city.

The expert believes that it is possible that apartments in complexes that will be built on a land plot purchased at a high price will be sold expensively.