A new apartment building overlooking Samed Vurgun street, which costs $1,300-1,500 per square meter to buy

The law in Azerbaijan dictates that no foreign citizen may own realty and land, which therefore leads ex-pats into the rental market. Thus the increase in foreign managers, professionals and qualified experts has resulted in rents increasing by 100-200%. The average monthly rate for two-to-three-storey houses, which are usually leased by top managers within the city limits, can vary from $3,000 to $5,000, while country villas on the Caspian shore in the north of the Apsheron Peninsula (Abseron Yasaqligi) are currently available to rent somewhere between $5,000 and $10,000 per month