Azerbaijan apartment privatizations surge on Baku rebound

A total of 1,555 residential apartments covering an aggregate floor area of 87,265 square meters were privatized in Azerbaijan last year, according to the State Statistics Committee. The figures represent a 14.3% increase in apartment volume and a 47.2% rise in total floor area compared to 2024 benchmarks.

Baku led the surge with 545 transactions, an almost fivefold (4.8x) increase year-on-year. Among industrial hubs and regional districts, Sumgayit logged 474 privatizations (+3.7%), Ganja registered 111 (+18%), and Shirvan totaled 78 (-11.4%). Sharp spikes occurred in Shabran (up 5.5-fold), Guba, and Goychay (both up threefold), while substantial downturns were reported in Hajigabul (-75%) and Khachmaz (-72.2%).