Azerbaijan, Baku, May 14 / Trend , U.Ismayilova/
Prices on the Azerbaijani real estate market dropped slightly - by 15 percent in late 2008, Head of teh State Real Estate Register Service Arif Garashov said on May 14.
"The property market experienced stability within first four months in 2009," Garashov said.
Garashov said prices for strategic facilities do not drop. The market is experiencing such a situation, because customers want to buy property at low prices, while seller plans to receive a definite income from the sale.
"I think passivity will last on the property market in a summer - unseasonable period and activity and price rise will appear on the market in autumn," Garashov said.
In March, deals on the secondary housing market dropped by 3.1 percent compared to February, the Participants of Real Estate Market reported. Part of new buildings on the secondary housing market increased by 0.9 percent and amounted to 60.3 percent compared to previous month.
A 0.4-percent growth of offers on the market causes additional price cut. Average prices on the market fell by 4.7 percent to $1,250 per square meters.
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