BAKU, Azerbaijan, December 19. The prices on the secondary real estate market in Baku continued to grow in November 2022, the CEO of Azerbaijan’s MBA (Marketing, Business and Analysis) Consulting Group company Nusrat Ibrahimov told Trend on December 19.
According to Ibrahimov, in the reporting month, the secondary housing prices in the Azerbaijani capital increased by 10.2 percent compared to October this year, and by 3.67 percent on annual basis.
Meanwhile, the cost per square meter in the secondary housing market amounted to 1,751 manat ($1,030), in November 2021 totaled 1,589 manat ($934.7), and in October 2022 stood at 1,689 manat ($993.5), he noted.
At the same time, in November this year, the total volume of offers in the capital's secondary housing market decreased by 0.41 percent compared to the previous month and rose by 9.97 percent in annual terms, reaching 1,720.
The average price of apartments on the secondary market of Baku increased by 8.99 percent year-on-year to 157,604 manat ($92,710).
Ibrahimov forecasted that real estate prices will continue to grow in December 2022.