BAKU, Azerbaijan, January 23. The prices for the secondary real estate market in Baku keep growing, the CEO of Azerbaijan’s MBA (Marketing, Business and Analysis) Consulting company Nusrat Ibrahimov told Trend.
According to Ibrahimov, prices for the secondary real estate market in Baku increased by 11.79 percent in December 2022 compared to the same month in 2021, and by 0.69 percent compared to November 2022.
In the reporting period, the cost per square meter in the secondary housing market amounted to 1,763 manat ($1,037), while in 2021 - 1,577 manat ($927). In November 2022, the cost per square meter totaled 1,751 manat ($1,030).
The total volume of offers on the secondary housing market in Baku totaled 1,821 in December 2022, increasing by 5.87 percent compared to November 2022, and by 14.96 percent compared to December 2021.
The average price of apartments on the secondary market of Baku increased by 10.77 percent year-on-year to 155,535 manat ($91,491).
Ibrahimov forecasted that real estate prices will continue to grow in January 2023.
MBA Consulting company was established in March 2008 and provides consulting and marketing services in various fields of economics. The company’s specialists act as trainers at courses organized on marketing, business formation, legal services, realtor activities (purchase and sale of the property), and valuation as well.