New buildings in Azerbaijan
Location and climate
Azerbaijan (the official name is the Azerbaijan Republic) is located in the Transcaucasia and is bounded by the Caspian Sea to the east. Baku is the capital and the largest city. A significant part of the territory is occupied by mountains, the largest river is the Kura. The majority of the country's population is Muslim, the state is secular.
The climate of Azerbaijan is diverse: from warm and humid subtropical oceanic (Lankaran lowland) to moderately cold in the snowy Caucasian highlands.
For the attention of investors: economy, culture and education in Azerbaijan
Azerbaijan is a country with a developed economy. An important role is played by such industries as: oil and gas production, oil refining, chemical, engineering, mining, nonferrous metallurgy, food, light industries. Agriculture specializes in viticulture, horticulture, tobacco growing, vegetable growing, animal husbandry, sericulture etc.
Their culture is reflected in folk crafts. National spirit is manifested in clothing, artistic sewing, carpet weaving. Among the earliest examples of fine art are rock carvings found in some mountainous regions of the country. Azerbaijan is famous for its architectural monuments. The basis of the Azerbaijani national musical culture - Mugam (a vocal and instrumental work of classical musical and poetic art, as well as the name of the modes of Azerbaijani music) is included in the UNESCO cultural heritage list.
Only 7 universities of Azerbaijan are presented in the well-known QS (Quacquarelli Symonds) ranking of the best universities among the developing countries of Europe and Central Asia for 2021. This is clearly not enough, but it should be admitted that this indicator is better than a year earlier, when there were 5 universities of Azerbaijan in the ranking.
It is still profitable to buy an apartment in a new building in Azerbaijan
The real estate market began to gradually gain momentum, the demand for real estate in Azerbaijan in the new buildings has recovered and is growing. Experts attribute this to the fact that many have reconsidered their attitude to housing in the new buildings: if previously an apartment was perceived as a place to relax, now it is a living space with a personal and work area. In addition, the revival in the real estate market can be associated with the arrival of undecided buyers, that is, the factor of deferred demand began to influence residential complexes in Azerbaijan.
An increase in the volume of issued mortgage loans plays a serious positive role: as the statistics of the Central Bank indicates, agent banks of the Azerbaijan Mortgage and Credit Guarantee Fund issued mortgage loans for a total amount of 2.8 times more than in the same period of 2020 only in January 2021. Against the backdrop of expectations of a recovery in business activity, real estate remains a stable instrument for keeping money, doing "lazy business" (getting passive income from renting the housing out).
Experts also expect a significant revival in the market for new buildings due to large-scale programs to return the population to the territory of Karabakh. The construction of houses and the sale of apartments from developers in Karabakh will relieve the warming up market in the capital, there will be more interest in purchasing housing in a naturally beautiful region in modern residential complexes and individual houses, where smart technologies will be used in construction, and new infrastructure will be created.
The lowest cost per square meter of an area handed over in black frame condition in the capital city Baku (according to information from the GEOLN.COM search engine) is 310 USD. Compliance of the quality of construction with the standards adopted in the country is confirmed by customer reviews.
Acquisition of apartments in Azerbaijan from the developers by foreign investors
Foreigners can buy apartments from the developers in Azerbaijan without restrictions. With the exception of the right to purchase real estate with a land plot.
Purchasing an apartment in a new building in Azerbaijan is a promising investment with a stable rental income in a country with rich natural resources, rapid, strategically planned economic development for investors who are satisfied with the mental characteristics and political vector of the country.