Will COP29 Affect Real Estate Prices in Baku?

COP29 (The Conference of the Parties on Climate Change) is a global event that can have an impact on the real estate market in host cities. For cities like Baku, such large-scale events may have several significant effects:

Increased Demand: During COP29, the influx of foreign delegations, tourists, and businesspeople will temporarily increase the demand for rental apartments and hotels. This could lead to a temporary rise in rental prices, especially in central and prestigious areas of the city.

Infrastructure Investments: International events like these often lead to improvements in the city's infrastructure. New roads, hotels, and other projects can positively impact the real estate market, potentially causing price increases in certain areas.

Enhancement of the City's Prestige: Events like COP29 contribute to Baku's global recognition and prestige. This will attract the interest of foreign investors in the city's real estate market, leading to an increase in property prices.

Long-Term Investments: After the event, the attraction of foreign investments and the creation of new business opportunities could lead to long-term price growth in the real estate market. The demand for commercial properties and premium residential spaces is expected to rise.

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