Azerbaijan, Baku, Sept.3. / Trend U.Ismayilova/

Prices on the Baku secondary real estate market increased by 0.8 percent to $1, 345 per a square meter in July, compared to $1, 334 in June, the Property Market Participants public organization said.

In July, the average price for an apartment was $120,400 (-4.9 percent) and the average price of one room was $47.77 (-6.8 percent). The average figure for a room on the secondary residential market amounted to 2.52 (+2 percent) in July.

Apartments offered on the market under the average price took 59.7 percent of the market portfolio compared to 62.4 percent in June. The most significant increase in price was observed in the Yasamal district of Baku - by 2.4 percent in July.

Newly-built buildings accounted for significant part of the secondary housing market or 54.7 percent. Leningrad design projects accounted for 13.7 percent, experimental - 8 percent, Stalin design - 7.6 percent, Khrushchev design - 4.6 percent, Kiev project - 3.5 percent, German - 1.2 percent, French - 1.8 percent, Minsk - 1.9 percent, Italian - 0.5 percent and architectural - 2.5 percent.

Large part of the portfolio of the second market - 26.2 percent was made up by the buildings in Baku's districts of Yasamal, Nasimi (17.9 percent), Narimanov (19.1 percent), and Khatai (12.9 percent), which comprises 76.1 percent of the secondary housing market.

In July, the dynamics of bargaining on the secondary residential market in Baku increased by 19.2 percent. Offers increased by 32 percent on the secondary residential market in Baku in July. The term of exposure in Baku's secondary housing market reduced by 6 days to 105 days and this has led to an increase in market profitability by 3.9 percent. Coefficient of profitability of facilities was increased by 3.9 percent in July.

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