Azerbaijan, Ganja, Dec. 20 / corr. Trend U. Ismaylova, V. Mammadov / "Financial crisis, which suspended operations in real estate market in the west of Azerbaijan, allowed to activate market of dwelling rent," Mirmehti Tagiyev, regional broker, said to correspondent of Trend in Ganja.
"Such situation occurred due to suspension in the market. As a result, owners refuse from sale, preferring rent dwelling," Tagiyev said.
There is complete stagnation within three months in real estate market in Ganja, he said. But price cut for dwelling isn't expected in spite of activation in the rent market.
Rent of two-room apartment in the centre of Ganja varies from AZN200 to AZN400 per month but from AZN100 to AZN200 in the suburbs.
Sale in the real estate market of Ganja was reduced to zero due to world financial crisis, Jeyhun Aliyev, chairman of Ganja branch of broker company V.E.S. Consultancy limited company, said.
Two-room apartment in the centre of Ganja costs $50,000-60,000. 40x40 meters of land is offered for $15,000 near the city center, but 10x10 meters of land in the suburbs for AZN 2,000.
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