An unexpected shift in Baku's apartment market
New-build prices slipped while older apartments rose. August data show that different parts of the market moved in different directions.
The idea that apartment prices in Baku always move together does not hold in the latest figures. According to the Azerbaijan Appraisers Chamber (AQP), new-build prices eased in August 2026 while prices for older apartments edged up.
What happened to new builds?
AQP's new-build index moved from 106.5 in July to 105.0 in August, a 1.4% monthly correction. The reported median moved from roughly AZN 2,812.5 to AZN 2,771.7 per square metre.
Older apartments moved differently
The index for older apartments rose from 103.8 to 104.2 over the same period, an increase of about 0.4% month on month. The August median was AZN 2,625 per square metre.
A one-month drop for new builds does not mean every apartment in Baku got cheaper. Both indices remained above their December 2025 base: 5.0% for new builds and 4.2% for older apartments.
What does this mean for buyers?
An index does not determine the price of a particular home. Location, building condition, renovation, documentation and size all matter. These August figures describe a short period; they are not a forecast of what prices will do next.
Figures are from AQP's August 2026 real estate market index. The headline refers to the different monthly movements of new and older apartments. Məqam is a TezQur demonstration news site.
Open the AQP report