BAKU, Azerbaijan, May 12. The average cost of apartments in primary market of Baku decreased by 1.05 percent in April 2022 compared to the previous month, and increased by 10.26 percent over the year, Trend reports with reference to MBA Group consulting company.
The cost per square meter in primary housing market in Baku amounted to 1,505 manat ($885.3) in April 2022, 1,521 manat ($894.7) in March 2022 and 1,365 manat ($802.9) in April 2021, company said.
The total volume of offers in the primary housing market of Baku increased by 26.47 percent in April 2022 compared to the previous month and by 52.65 (to 922 offers) year-on-year.
Prices for apartments economy class in primary market amounted to 991 manat ($582.9) per one square meter in April 2022 (an increase of 5.99 percent over the month, by 3.01 percent over the year).
At the same time, prices in the market of expensive apartments decreased by 5.83 percent compared to the same period last year and amounted up to 2,424 manat ($1425.8) per square meter.