Buying or building a villa in Azerbaijan
In recent years, there has been a significant increase in the number of foreigners investing in real estate in Azerbaijan, primarily in Baku. Foreign investors are actively purchasing different types of real estate in Azerbaijan, naturally focusing mostly on residential properties. In particular, we are witnessing the growing interest of foreigners in buying luxury villas in Azerbaijan, and in many cases, building luxury villas according to their wishes.
We hope this blog post will be informative for foreigners planning to purchase luxury villas or build a villa in Baku. Furthermore, if you require real estate investment consulting or legal services regarding the process of buying or building a luxury villa in Azerbaijan, do not hesitate to turn to PROCO for assistance.
Why foreign investors prefer to buy or build luxury villas in Azerbaijan
There are various factors that attract foreign investors to buy or build luxury villas in Baku, Azerbaijan. Based on our experience in the country’s property market, we can highlight some of these reasons as follows:
- Firstly, compared to many countries, the prices of luxury villas in Azerbaijan are less expensive, encouraging foreigners to consider investing in the country. Similarly, the cost of land plots is also lower compared to other countries, attracting many foreigners to build their own luxury villas in Azerbaijan.
- Secondly, several well-known, large-scale premium real estate projects are currently underway in our country. These projects often include luxury villas as well, attracting foreigners interested in purchasing. Alternatively, foreigners have the option to buy individual luxury villas or construct one tailored to their specific needs.
- Thirdly, whether foreigners decide to purchase a luxury villa from large-scale projects, an individual villa, or choose to construct one, their prices are steadily increasing, making them a considerable investment.
The Process of purchasing a luxury villa in Azerbaijan
In Azerbaijan, foreigners have the same rights as local citizens to purchase real estate, allowing them to buy any type of villa just as locals do. Additionally, the process of purchasing a luxury villa in Azerbaijan is quite straightforward for foreign investors. Based on our years of experience, we recommend following these steps when buying luxury villas:
- Find the luxury villa to purchase: Firstly, identify your dream villa to invest in. To make the most optimal investment decision, you can contact our team.
- Determine the investment method: There are several methods for purchasing luxury villas in Baku, Azerbaijan. It is highly recommended to consult with real estate consultants to ensure you choose the best investment method.
- Ensure all legal aspects: It is important to address all legal aspects of your luxury villa purchase to prevent any potential legal risks. Therefore, do not hesitate to consult with real estate lawyers if necessary.
- So you can invest now: If you have found your dream villa and ensured all legal and investment aspects are in order, you can proceed with the purchase.
The Process of building a luxury villa in Azerbaijan
In Azerbaijan, while foreigners have the same rights as local citizens to purchase real estate, there is a legislative restriction on their ability to buy land plots. However, this restriction does not apply to companies registered in Azerbaijan by foreigners. Therefore, foreigners who wish to build a villa must first register a company to acquire land. Based on our years of experience, we recommend following these steps when deciding to build a luxury villa in Azerbaijan:
- Find the land plot to build a villa on: Firstly, you need to decide which part of the city you want to build a villa in. Then, you are required to find a suitable land plot on which to construct your villa.
- Register a local company and purchase a land plot: As mentioned above, you are required to register a local company in Azerbaijan to purchase a land plot where you plan to build a luxury villa.
- Apply for and obtain permissions: After purchasing a land plot, you will need to collaborate with a local construction company to plan your villa and build it. Additionally, it is necessary for them to obtain permission from the relevant state authority before beginning the construction process.
- You can start the construction process: Having secured a land plot and obtained the necessary permissions, you can now begin constructing your dream villa in Azerbaijan.
PROCO Services for purchasing or building a luxury villa in Azerbaijan
Finally, if you require professional real estate investment consulting or legal assistance with purchasing or building your dream luxury villa in Azerbaijan, feel free to contact PROCO. Our team of real estate lawyers and investment consultants is ready to provide you with the necessary consulting and legal services to purchase or build your villa in our country. We would be delighted to assist you and share our expertise in the field of real estate investment.