Baku Real Estate Market Livening Up
Azerbaijan, Baku / Trend corr U. Ismayilova / In October, 2007, Baku real estate market lightly livened up after the stagnation of September caused by the collapse of a 16-storey building in Baku in August resulting in 25 deaths, Caspian Property Services evaluating company said on 22 October.
According to the company, In October the prices at the secondary market rose by 5%, and remained unchanged at the primary market.
According to the Participants of Real Estate Market public organization, in August before the collapse of the building the average price for a square metre of real estate at Baku primary market was $1,027 and $1,261 at the secondary market.
"Although the supply at the secondary market and land market increased several times, there is no high demand," a source at the Participants of Real Estate Market said.
A real estate expert, the Executive Director of the Participants of Real Estate Market public organization, Nusrat Ibrahimov, confirmed the reports on livening up of Baku real estate market.