Buying real estate in Azerbaijan

Today Azerbaijan is an investment attractive country with a stable, actively developing economy and tourism market, with excellent environmental conditions and rich historical heritage, located at the junction of Europe and Asia. The country's rich cultural heritage and vibrant developing cities create a unique environment for property owners to live and work in.

The property market in Azerbaijan offers a wide range of options to suit all tastes, which is particularly attractive to foreign buyers. Here you can find quality ready-made objects both on the primary and secondary market, comfort class flats, elite new buildings, houses by the sea, commercial property.

Foreign citizens have equal rights to purchase private property in Azerbaijan and can buy any property from the offered variety of options, except for land plots. However, foreigners have the right to lease land (this provision is enshrined in Article 49 of the Land Code of Azerbaijan).

If you are planning to purchase a land plot, land registration is possible indirectly as the property of a company or in the name of a citizen of Azerbaijan, which in turn imposes certain tax and legal risks associated with real estate. Therefore, you should approach such a decision competently, having previously analysed the situation and weighed up all the pros and cons.

Along with Azerbaijani citizens, foreign citizens may freely dispose of their own real estate and proceeds. The legislation of Azerbaijan does not discriminate rights in this respect.

Buying property in Azerbaijan gives owners a number of indisputable advantages:

• The possibility of obtaining a residence permit (residence permit) in Azerbaijan.
• Reliable, profitable investment project. Affordable prices compared to many other countries along with the absence of restrictions on buying and selling property, stable economy and growth in property prices.
• Absence of communication barriers. The population of Azerbaijan speaks three languages, including English, which makes it easy to adapt in the country.
• The opportunity to choose property in any region from the Caspian Sea coast to secluded picturesque corners of the Caucasus Mountains. Azerbaijan truly boasts stunning landscapes and locations.
• Developing market and loyalty to foreign investors. Favourable dynamic development of infrastructure and growth of tourism gives excellent potential to the real estate market. The government of Azerbaijan in turn is actively working on the development of this area and introducing various incentives to attract foreign investors to the country.

The process of selecting and buying property in Azerbaijan usually involves the following processes:

• Finding a suitable property that meets your needs and budget, inspecting it and agreeing the price and terms;
• Signing the sale and purchase agreement at a notary. You can solve all issues through an official representative on a notarised power of attorney, and there is no need to be physically in Azerbaijan;
• Simultaneously with the stage of the notarised transaction, the process of applying to the state real estate registry for ownership is carried out;
• Obtaining the title to the property.

In order to purchase real estate together with the land plot from the side of the company it is necessary to provide also the founding documents of this company.

Buying property from property developers:

Newly built properties are usually not registered in the state register of immovable property and, accordingly, do not have title documents. The process of construction and delivery of the property is based on internal agreements between the buyer (investor) and the developer. Therefore, such transactions require special attention, as they may lead to additional risks that will require additional legal support.

The process of property selection is quite convenient, companies provide the opportunity to familiarise themselves with options in convenient English-language online directories such as emlaktap.az, emlak.az, lalafo.az, bakubina.az.

The sites offer selection and sorting by various key parameters, as well as the possibility to negotiate with the owners about viewing and agreeing the price.

The following areas are worth considering when looking for property in Azerbaijan. Firstly, the centre of Baku, especially the Nasimi and Sabail districts, offer a mix of modern apartments and historic architecture, making them a popular choice. The Bayil neighbourhood, located on the Caspian Sea, is characterised by a quieter and more picturesque setting.

For those who prefer a more suburban atmosphere, the suburbs of Khirdalan and Nizami are excellent choices, due to their family-friendly and cosy atmosphere.

Ganja, the second largest city in Azerbaijan, offers new property opportunities, especially in the city centre.

Also worth considering are the vibrant and culturally rich neighbourhoods of Sheki and Gabala, which offer a unique blend of nature and heritage. Your choice will ultimately depend on your preferences, whether it be city life, coastal views, family communities or cultural experiences.