Real estate prices change in Baku
BAKU, Azerbaijan, May 13
By Elchin Mehdiyev - Trend:
Prices for real estate properties in Baku have changed, despite the lack of activity, Nusrat Ibrahimov, director general of the Azerbaijani MBA Group consulting company, real estate expert, told Trend on May 13.
In April, an increase of 1.13 percent was observed in the prices of the portfolio of offers on the secondary housing market, and prices for apartments of primary housing rose by 8.58 percent.
“The growth was mainly due to structural changes, that is, there were more expensive apartments in the portfolio of offers, and fewer less expensive ones. Those who offered apartments at a low price, delayed the sale due to the pandemic, deciding to wait out this period. So, the expensive apartments remained in the portfolio, which ultimately led to a rise in price in the market,” said Ibrahimov.