BAKU, Azerbaijan, October 20. The average cost per square meter of apartments on Baku's primary housing market grew year on year in September 2022, CEO of Azerbaijan’s MBA (Marketing Business Analysis) Group Consulting company Nusrat Ibrahimov told Trend on October 20.
According to Ibrahimov, this figure amounted to 1,587 manat ($930), which is 15.25 percent more than in September 2021 (1,377 manat or $810), but 0.25 percent less compared to August 2022 (1,591 manat or $940).
“The total volume of offers in the primary housing market of Baku in September 2022 increased by 2.93 percent compared to the previous month and by 234.73 percent – on annual basis - to 877," he said.
Besides, according to him, prices for economy-class apartments in the primary market in the reporting month equaled 1,000 manat ($590) per square meter (a decrease by 0.79 percent over the month, and an increase by 6.84 percent over the year).
"There was also recorded an increase in prices in the market of expensive apartments by 5.19 percent compared to the same period last year - up to 2,491 manat ($1,470) per square meter," added the CEO.