Falls in Prices in Secondary Housing Market of Baku

Business Materials 23 August 2008 14:32 (UTC +04:00)

Azerbaijan, Baku, 23 August / Trend corr. U.Imsayilova / In July, average price of one sq m of housing area at secondary market of real estate in the Azerbaijani capital city was reduced by 1.4% - to $1604 for sq as compared to figures of June, Real Estate Market Players public organization said on 23 August.

Fall in prices, basically, happened because of drop in cost of houses in Azizbayov, Garadagh, Surakhani, Sabunchu and Khatai districts of Baku.

Supply at the secondary market of housing rose by 6.3%. In July, about 7,000 flats were offered at the secondary market of real estate in Baku. A total of 20.6% of them are located in Narimanov district, 18.1% in Yasamal district and 15.4% in Nasimi district.

In July, two-room flats amounted to 38.7% and three-room to 32.7% in portfolio of secondary market in Baku.

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