Azerbaijan, Baku, 23 June / Trend corr.U.Ismaylova / The minimal average cost of the five-room apartments in Baku with an area of up to 157.9 sq.m totals nearly $254,500. Averagely the five-room apartments in Baku in the newly constructed buildings with repaid area amounts to $244,700, but without repair - $173,600.
Population prefers to purchase apartments in new multi-storey housings, as apartments in the second real estate market are more expensive. For example, the cost of the five-room apartments in Baku with an average area of 157.9 sq.m totals $416,300.
Share of five-room apartments in real estate portfolio is 16%.
The most expensive apartment is possible to purchase in the Sabayil District in Baku for $386,300, and cheaper apartment - around the Absheron region for $170,800 with $1,082 per sq.m.
The cost of one sq.m of housing in the Azizbayov District in Baku is $1,112, as well as $1,630 - Binagadi District, $1,449 - Garadag District, $1,762 - Yasamal District, $1,508 - Nizami District, $1,831 - Narimanov District, $1,935 - Nasimi District, $1,462 - Sabunchi District, $1,137 - Surakhani District and $1,391 -Khatai District.
The Activity in the first real estate market went down immediately after collapse of 16-storey housing in Baku, which resulted in death of 25 people. However, the activity in the market started to up since early 2008. Demand in apartments is satisfied with cheap cost of new constructed buildings compared to the second real estate market.
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