BAKU, Azerbaijan, October 22. Prices for renting apartments grew in Baku in September 2022, CEO of Azerbaijan’s MBA (Marketing Business Analysis) Group Consulting company Nusrat Ibrahimov told Trend on October 22.
According to Ibrahimov, the cost of renting one square meter of housing in Baku in the reporting month increased by 9.74 percent in monthly terms and by 2.9 percent on annual basis, to 9.24 manat ($5.44).
Meanwhile, the average cost of renting apartments in the city amounted to 964 manat or $567, up by 22.8 percent (785 manat or $461.7) over the month and by 9.92 percent (877 manat or $515.8) over the year.
The total volume of offers in the housing rent market of Baku in September 2022 decreased by 0.89 percent compared to August this year, but grew by 116.71 percent – on annual basis - to 778 manat ($457.6), added the CEO.