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One of the World's Fastest Growing Economies Country - Azerbaijan!

About Azerbaijan
Azerbaijan, officially the Republic of Azerbaijan is an important and the largest country in the Caucasus region of Eurasia. Whilst the capital, Baku, has rapidly transformed itself into a highly developed modern city, the surrounding villages still remain untouched and archaic.
Azerbaijan is divided partially between Eastern Europe and Western Asia. On its eastern side lies the Caspian Sea, whilst the Russian Federation borders it on the north.
Other countries which share boundaries with Azerbaijan are Georgia in the west and north-west, Armenia in the south-west and Iran in the south. The Azerbaijani exclave of Nakhchivan is bordered by Armenia to its north and east, while Iran lies to its south and south-west, and Turkey to its west.
Azerbaijan is formed of 65 regions and 69 cities of which Baku is the capital. While Azerbaijani is the official language, due to Russia's rule for so many years, Russian and Turkish languages are also widely spoken. In some regions, people also converse in English, German and Arabic.


Azerbaijan’s economy got a helping hand post its independence from Soviet Russian in early 90’s. After the completion of the Baku-Tbilisi-Ceyhan Pipeline it transformed into major oil based economy self-sufficient from Russia’s dependence. It’s GDP has been growing year after year, setting an example for the highest rate growth in any country in the world. Under normal conditions, such GDP rate growth cannot be sustained over a longer period of time, but Azerbaijan has been able to do so.
Oil Reserves and its trade has been the main strength of Azerbaijan’s economy for over a century and accounts for more than 10% of the country’s GDP. This is expected to double in the coming years. Some oil reserves that Azerbaijan shares with other bordering countries in the Caspian Basin are as large as the North Sea. The exploration in these oil reserves is still in the initial stages as is eyed by all the Western countries as it is untouched by the Soviet states.

Real Estate Abroad

With the growing income in Azerbaijan in recent years, many Azerbaijanis have started investing in real estate abroad. The euro crisis has made investing in real estate in Europe an attractive one. Azerbaijanis usually buy property abroad for business interests but also for personal affairs as the number of young Azerbaijanis studying abroad is increasing year by year. Ogtay Hagverdiyev, an economic expert recently told local media that over the past 10-15 years, Azerbaijani citizens have invested billions of dollars in real estate abroad. However, the absence of relevant statistics prevents us from coming up with exact numbers.Nariman Agayev , Chairman of the Sustainable Development Research Center earlier told that Azerbaijani citizens, mostly prefer to buy properties in Turkey, and then in England, particularly in London, Italy, Monaco, Zurich, Russia, Austria,U.A.E, particularly in Dubai, Germany and France particularly in Paris.It can be said that Azerbaijanis prefer to purchase luxury houses where the market is expensive and stable. Nusret Ibrahimov, CEO of MBA Group- a consulting company- also believes that middle-class Azerbaijanis prefer real estate in Eastern Europe.