Azerbaijan’s economy has been growing steadily in recent years, with the country a major player in the global oil industry. This, combined with the country’s stable political environment, has helped fuel economic growth in Baku.

This has been supported by the government of Azerbaijan investing heavily in infrastructure development in Baku, including the construction of new roads, airports, and public transportation systems, enhancing the value of luxury property in Baku.

Baku is situated at the crossroads of Europe and Asia, making it an important transportation hub for the region. This location makes it an ideal destination for business, tourism, and investment.

Demand for housing and commercial properties in Baku has been increasing, making it an attractive market for real estate investment. The demand for rental properties in Baku is strong too, both from locals and tourists, helping real estate investors generate stable and predictable rental income from luxury flats in the city.

When compared to other prominent cities in the region like Istanbul, Moscow, or Dubai, Baku stands out for its relatively affordable property prices.

Over the past five years, the city has experienced a remarkable surge in residential developments, with The Ritz-Carlton Residences Baku leading the way as the first branded residential project in the area.

Nestled between the captivating Caspian coastline and breathtaking beaches, with ski resorts just a few hours away to the north, Azerbaijan offers a unique combination of natural beauty and recreational opportunities.

This exceptional setting positions the country as a standout destination in the region, creating a thriving tourism sector that contributes to a gradual increase in rental prices over time.

A temporary residence permit is granted with a property investment over AZN 100,000, while owners can benefit from a tax-free resale of the property after three years of ownership (or a low tax rate resale up until that point).