BAKU, Azerbaijan, August 9. Prices on Baku's secondary housing market continue to decline year on year, Director of the MBA Consulting Groupcompany Nusrat Ibrahimov told Trend.
"In June 2022, house prices in the capital's secondary market decreased by 1.7 percent compared to the previous month and by 5.01 percent against the same period of 2021. In the reporting period, the cost per square meter in the secondary housing market amounted to 1,612 manat ($946.8)," Ibrahimov said.
According to him, a decline in the primary housing prices was also observed in Azerbaijan.
"In reporting month, prices in the primary housing market of Baku dropped by 5.35 percent compared to the previous month, and increased by 8.64 percent year on year, reaching 1,522 manat ($894.01) per square meter. Furthermore, the cost of one square meter of private and country houses made up 891 manat ($523.36), growing by 4.85 percent and 2.72 percent against the previous month and the same period last year, respectively," Ibrahimov stated.