BAKU, Azerbaijan, December 26. Prices on the secondary real estate market in Baku continue to grow year-on-year, CEO of Azerbaijan's MBA (Marketing, Business, and Analysis) Consulting Group Nusrat Ibrahimov told Trend.
"Prices in the secondary housing market of Baku increased by 16.5 percent in November 2023 year-on-year, and by 0.05 percent compared to the previous month. In the reporting period, the average cost of a square meter in the secondary housing market amounted to 2,040 manat ($1,200)," Ibrahimov said.
He noted that the total volume of offers in the secondary market amounted to 1,920 in November (an increase of 11.63 percent over the year, and by 3.9 percent compared to the previous month).
As of January 1, 2023, the average cost per square meter in the secondary housing market was 1,763 manat ($1,037), and the total volume of offers in the secondary market was 1,821.