BAKU, Azerbaijan, January 8. The population of Baku is forecasted to increase from 2.88 to 3.17 million people by 2040, Trend reports, referring to the 'Baku city General Plan 2040'.
According to calculations based on population forecasts, by 2040 about 142,820 additional apartments will be in demand in Baku.
The master plan provides an area of about 9,000 hectares for buildings and houses that will be built to meet the housing needs of the population, where it will also be possible to provide about 200,000 apartments. This will be enough to satisfy equal demand for 49,970 apartments, which will appear by 2027, and 92,850 apartments, which will appear by 2040.
The population of Azerbaijan as of August 1, 2023 was 10,157,406 people according to the results of the latest population census, revealed by the State Statistics Committee of Azerbaijan.
In the total population, the share of the urban population was 54.6 percent, rural - 45.4 percent.
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