BAKU | Khazar Islands | U/C

[KiwiRob]

On the 19th you said

Originally Posted by hater

they have sold 60 apartments in 45 days

And now today you're saying a couple of hundred

Originally Posted by hater

Learn to read
its funded by private investors and couple hundred apartments have been sold in less than 2month

get your story straight, stop trying to make it look better than it really is.

Construction prices for the apartments are listed as 3500 -4100 AZN per sqm, in USD that's 4500 to 5200 per sqm, that's high end pricing, pretty similar to prices in Moscow which average around 5400 USD per sqm. According to the link mortgages will be over 15 years, so with an average income per person of approx 10k USD please tell me how 1 million Azeri's will be living here by 2022.

I don't believe this development is affordable for the average Azeri, plus I don't see Baku as a city which would attract rich foreigners to invest in the property market.

[Azer_Akhundov]

KiwiRob, believe me, no one would start such a project if there were no buyers. Also, purchasing the property does not mean that everyone will live there

[KiwiRob]

What do you mean no one would start such a project if there were no buyers, Skyscraper City is full of projects which have been stopped or abandoned during construction.

If people aren't going to live in them then that means it's an investment property, which means that they want people to rent it, which means rental has to cover at least the cost of the mortgage, due to the high purchase price the rentals will naturally also be expensive. Where are the people coming from who will be able to afford such expensive rental properties?

[Azer_Akhundov]

You are right about stopped projects, but it can also happen with small projects like 10-storey buildings and etc. I mean, everything depends on sales, and for now the construction of islands is going on at full speed. It is too early to speak about project's success or fail for now.

I meant that not all people buy property just for living. I know many people that have already a living space and buy another one as a future investment. You don't have to pay rentals after purchasing a property.

[KiwiRob]

You still have to pay the mortgage unless you have the funds to purchase it outright. I am sure there will still be body corporate fees, plus ground rent if the land isn't freehold. As I've been trying to point out this is an expensive development, I'm trying to work out where the people are coming from that will A. be able to afford to purchase an apartment or B. be able to afford to rent one.

Azeris aren't rich people, the middle class is still fairly small, the wealthy class is also small, the developers expect 1 million people to be living here in 10 years, where will they come from?
Apart from my doubts over the project financial viability, I actually think this is an interesting project, I much prefer it to White City.

[Azer_Akhundov]

Well, we can't predict what will happen in 10 years. The only thing I can certainly say is that, today many luxurious apartments are sold in Baku pretty well.

And also, as you know, the plans about construction of the tallest building of the world are also included to this project, maybe, this fact can attract foreigners to this development.

[KiwiRob]

If you want foreigners to come you have to make the visa process much easier, Europeans like to be able to get on a plan and go where they want to go without having to spend a couple of weeks getting a visa to go there. BTW what's happening with Eurovision, is Aliyev going to relax the visa rules for people wanting to come to the concert?

[Azer_Akhundov]

Yes, from 10 May visitors can obtain entry visa upon arrival at Baku International Airport.

[BaKuCiTy]

@KiwiRob its not ur problem who will buy the apparts there or is it? all this will be finish till 2020 & the people in Azerbaijan will have more money! and its also all Azeris around the world who will buy apparts! like me! and there is 50 million Azeris in the world! and its not only for Azeris, who want will buy! so stop ur bullshit! my words is also for all stupids here! its our land & our problem what we do & what we will do!

[hater]

Originally Posted by KiwiRob

On the 19th you said



And now today you're saying a couple of hundred



get your story straight, stop trying to make it look better than it really is.

Construction prices for the apartments are listed as 3500 -4100 AZN per sqm, in USD that's 4500 to 5200 per sqm, that's high end pricing, pretty similar to prices in Moscow which average around 5400 USD per sqm. According to the link mortgages will be over 15 years, so with an average income per person of approx 10k USD please tell me how 1 million Azeri's will be living here by 2022.

I don't believe this development is affordable for the average Azeri, plus I don't see Baku as a city which would attract rich foreigners to invest in the property market.

hey if you bothered to look
I took the info for sale of 60 apartments from a more than a month old news source
and so far there have been more than 200 apartments sold
and this project will be realized in 15 years so there is no hurry in finding the buyers of the apartments

[KiwiRob]

Originally Posted by Azer_Akhundov

Yes, from 10 May visitors can obtain entry visa upon arrival at Baku International Airport.

So back to standing in a long que again, I was happy when they stopped issuing visa's at the airport.

[hater]

Originally Posted by KiwiRob

So back to standing in a long que again, I was happy when they stopped issuing visa's at the airport.

Soon you will be able to get them online

[Bozqurd]

Can you guys ignore this guy?

There are projects like Flame Towers, The Crescent and many more in Baku that are being/will be realized, according to this guy perhaps neither these projects could have been realized.

[KiwiRob]

Flame Towers and The Crescent are individual buildings, not entire cities, you can see the difference can't you?

[Galandar]

KiwiRob, Khazar is also not the only complex development project in Azerbaijan. If you have enough information about Azerbaijan then you might heard about projects like Dream Island, Baku White City, Shahdag Summer Winter Resort... Moreover Azerbaijan has already started to realize all the above mentioned projects.

[hater]

Originally Posted by Bozqurd

Can you guys ignore this guy?

There are projects like Flame Towers, The Crescent and many more in Baku that are being/will be realized, according to this guy perhaps neither these projects could have been realized.

There many more modern project being built right now

[Spider-Man22]

New photos?

[Lion007]

What a huge project. Congratulate on this project. How many buildings did they build?

[hater]

more than 70 but many changes have been added so now prob more than 150

[Lion007]

Can someone photo this buildings?