Current Price Increase for Housing in Azerbaijan Results from Current Inflation: Assessment Company

Azerbaijan, Baku, 19 March /corr. Trend U.Ismaylova / Assessment Company Caspian Property Services has announced current stability in the prices in the real estate market of Azerbaijan, and monthly price increase in the housing is explained only through compensations raising macro-economic indicators.

"At present, demand is not growing for the real estate. The price increase is artificial due to the inflation growth," the Company stated on 19 March.

In March, the price increase made up only 3-5%, the Company said.

According to the data by State Statistics Committee, the rate of price increase for the consumer goods and tariffs in February made up 2.2, as compared to January 2008 and 15.7% as compared to January-February 2007.

In Feb, the public organization Participants of Real Estate Market stated that the average price of one s.q m of housing area in the first market in Baku made up $1057, and in the second market - $1720.

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