Azerbaijani Property Market Has no Traditions – Expert
Azerbaijan, Baku, 3 March / Trend corr. U.Ismailova / Nusrat Ibrahimov, Executive Director of public organization Participants of property market, stated that the Azerbaijani State should develop certain mechanism or rules to manage property market of the country.
"The property market is the second most beneficial source after oil in world and Azerbaijan is no exclusion," Ibrahimov said.
Ibrahimov said that about 90,000 apartment purchases and sales are held in the Azerbaijani property market annually. Taking into consideration this figure, the annual market income may be assessed as billions.
The property market of Azerbaijan is still young and therefore requires professionalism. In this respect participants of the property market should develop their knowledge in this direction.
There is the mistaken opinion amongst the Azerbaijani population that the sale and purchase of property is done solely through a business. "Increasing professionalism is the best way to resolve property problems," Ibrahimov stated.
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