In recent years, the rapid increase in prices in the real estate market has brought alternative ways to become a homeowner to the forefront. One of these options is to buy land and build a private house. However, it should be noted that the price increase has affected both land plots and construction materials.
So, which is more profitable, buying a ready-made apartment or buying land and building a house?
According to Vugar Oruj, Chairman of the Azerbaijan Society of Appraisers, building a private house can be more profitable if land is found at a reasonable price. According to him, the cost per square meter of construction is approximately 500-800 manats, depending on the level of renovation. When land and landscaping costs are added, the total price approaches an average of 1000 manats per square meter. However, apartment prices are higher, with the city-wide average being 3500 manats, and in some areas, particularly in Nasimi district, it rises up to 17,000 manats.
The expert states that 2-3 sot of land is required for small houses, 5-6 sot for individual residences of 100-150 square meters, and 10-12 sot for larger projects.
Land prices vary depending on the location. According to advertisements, one sot of land in areas around Baku starts from 6,000 manats, and it is possible to find plots with title deeds in areas like Saray, Fatmayi, and Mammadli at this price. In areas closer to the capital, prices are significantly higher, with some areas requiring 55,000-60,000 manats per sot.(milli.az)