Fall in house rental in Azerbaijani capital
Azerbaijan, Baku, Dec. 29/ Trend , U. Ismayilova/ Prices in real estate rental market have fell since November. The market has faced standstill since then, a source in MBA Group consulting company said.
"The prices dropped by 1.2% in November while it increased by 0.8% in October," company said.
In the city center, average house rental totaled AZN 536, one-bedroom flat - AZN 338, two-bedroom flat - AZN 515, three-bedroom flat - AZN 762, four-bedroom flat - AZN 781 and five-bedroom flat - AZN 894.
Average rental of private houses totaled AZN 997 and villas - AZN 4,900.
Most suitable rental was offered in suburbs and buildings of Kiev, Leningrad and partially Minsk project.
High rentals were offered in buildings of Stalin and architectural projects. But rentals in the newly-erected buildings were the highest.
During this period, portfolio of house rental increased by 1.6%. Three-bedroom flats accounted for great part (20%) of portfolio and two-bed-room flats - for 33.5% of portfolio.
In Nov.-Dec., flats with rental of AZN 340 to AZN 620 were in high demand which made up 53.5% of portfolio.
In Dec., facilities for rent made up 21% of real estate market. During this period, yield of this market made up 0.4% for 20 days.
High demand accounted for Nasimi (28.3%) and Narimanov (22%) districts of Baku.
Rate for Dec. 29 is 0. 8005 AZN/USD.
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