BAKU, Azerbaijan, May 11. The average price of housing on the secondary market of Azerbaijan's Baku decreased by 0.57 percent in April 2022 compared to the previous month, and by 5.69 percent over the year, Trend reports with reference to the MBA Consulting Group company.
In the reporting month, the cost per square meter in the secondary housing market made up 1,590 manat ($935.8), while in the same period of 2021 – 1,686 manat ($992.35).
The number of proposals in the secondary housing market of Baku grew by 0.62 percent in April 2022 against the previous month and reduced by 12.31 percent on an annual basis, down to 1,624.
The average value of secondary apartments dropped by 25.5 percent year on year.
Prices for economy class apartments on the secondary market amounted to 1,353 manat ($796.35) per square meter in April 2022 (a decrease of 1.1 percent over the month, an increase of 0.52 percent over the year).
Meanwhile, expensive apartments in the secondary market of the capital fell in price by 44 percent compared to March 2022 and by 9.06 percent compared to the same period in 2021, totaling 2,925 manat ($1,721) per square meter.