Prices for private houses in Baku and adjacent areas increase

Economy Materials 14 March 2023 10:45 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, March 14. The prices for private houses in Baku and adjacent areas, increased on average by 1.68 percent in January 2023 compared to the same period of the previous year, the CEO of Azerbaijan’s MBA (Marketing, Business, and Analysis) Consulting Group company Nusrat Ibrahimov told Trend.

According to him, the growth in prices was 1.58 percent compared to December 2022.

"The average cost of one square meter of private houses in January 2023 totaled 958 manat or $563.5 (against 943 manat or $554.7 in December 2022 and 941 manat or $553.5 in December 2021)," said Ibrahimov.

According to Ibrahimov, the total volume of offers in the private and country house rental market in December 2022 increased by 11.27 percent year-on-year and decreased by 0.2 percent compared to the previous month, to 1,017.

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.