Azerbaijan, Baku, May 8 / Trend , U. Ismayilova/
The activity in Baku's real estate market fell 80 percent compared to September 2008 (the period of deepened financial crisis), Caspian Property Services Director for Marketing Elnur Azadov said.
"The activity of buyers fell 20 percent compared to the fourth quarter of 2008 in the first quarter," Azadov said.
He said the prices remained unchanged on the market during this period. The prices are expected to fall slightly in summer.
Currently, prices on one square cubic meter of housing ranges from 1,800 to 3,000 manat in the first zone of the city, from 1,000 to 2,000 in the second zone, from 700 manat to 1,000 in the third zone and 700 manat in the fourth zone of the city.
On May 8, the official exchange rate is 0. 8035 manat to $1.
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