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Baku secondary housing market activated

Business Materials 18 February 2009 12:15 (UTC +04:00)

Azerbaijan, Baku, Feb. 18 / Trend , U.Ismayilova/

The growth rate on the Baku secondary real estate market was 4.4 percent in January, the Participants of the Real Estate Market public organization said on Feb. 18.

"The number of properties on the market dropped in January. Sellers recalled their offers due to price cuts," the company said.

Offers on the market fell 8.2 percent and totaled 4,710.

An average 3.8-percent price decrease was observed to $1,380 per square meter from 1,430 in December 2008.

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