“Formula 1” has created activity not only on the race track, but also in the capital's rental apartment market.
Modern.az reports that the demand for apartments located especially in the areas where the race track passes and close to the city center has increased. Apartments from whose balcony or window it is possible to directly see the track attract more interest during race days.
According to the statement of the Azerbaijan Appraisers Society, on the eve of "Formula 1", the prices of daily rental apartments around the track may increase by approximately 40 percent compared to previous periods. It is reported that the daily rent of such apartments will vary between 400-600 manats. Previously, prices were approximately in the range of 250-400 manats.
Currently, apartments with direct access to the "Formula 1" track are also found in advertisements. For example, a 6-room, 200 square meter apartment near Icherisheher, with a balcony located on the "Formula 1" track, is offered for 150 manats per day. The announcement was updated on September 17, 2026.
On Neftchilar Avenue, a 3-day balcony rental for watching "Formula 1" races was offered for 300 manats.
One of the main reasons for this revival in the apartment market is the increase in the number of foreign guests coming to Baku on race days. This year, the number of foreign tourists coming to the capital for the 10th anniversary of the Azerbaijan Grand Prix exceeded 16 thousand. This is a record indicator for the period when "Formula 1" was held in Baku. Last year, the number of foreign guests was 14 thousand.
In addition, tickets for the 2026 Azerbaijan Grand Prix were purchased by fans from more than 120 countries. This shows that the geography of the tourist flow created by the race is expanding.
Thus, the increasing tourist flow has increased demand not only in hotels, but also in the short-term rental apartment market. Especially balconies and apartments offering a view of the track turn into a separate rental product during "Formula 1" days.
Experts state that this price increase is mainly a process limited to short-term and race days. It is noted that the impact of "Formula 1" on the long-term rental market is more limited.
Guler Huseynli
