BAKU, Azerbaijan, January 24. The average cost per square meter of apartments in Baku's primary housing market in December 2022 increased by 4.9 percent compared to the previous month, and 24.29 percent year over the year, CEO of Azerbaijan’s MBA (Marketing Business Analysis) Group Consulting company Nusrat Ibrahimov told Trend.
"The cost per square meter in the primary housing market in Baku amounted to 1,714 manat or $1,008 (1,634 manat or $961 - in November 2022, 1,379 manat or $811 - in the same period last year) in December 2022," he said.
The total volume of offers on the primary housing market of Baku in December 2022 decreased by 10.3 percent compared to the previous month and increased by 41.22 percent year-on-year, reaching 836.
On an annual basis, the average price of apartments in the primary market increased by 33.29 percent and amounted to 235,961 manat ($138,800).
According to his forecasts, 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.