Azerbaijan, Baku, Dec. 26/ Trend U.Ismayilova
Prices on the Baku secondary real estate market decreased by 2.9percent to $1,243 per square meter in October, in November -1 percent to $1,231, the Property Market Participants public organization said Dec.25.
In October, the prices on the secondary housing market rose in Garadagh District (0.4 percent), but fell in Binaqadi District (2.2 percent). In November, price rise was not observed in any district and the most significant drop was recorded in Sabail District (1.9 percent).
In October, the share of the second real estate market offered at prices lower their average price made up 56.2 percent, In November - 58.8 percent
In October, the average price of one room totaled $48,230, in November- $49,450. The average price of apartment made up $112,319 and $113,561, respectively
In October, the portfolio of the second market decreased by 1.4 percent. The proposal on the market reduced by two percent. The exposure term increased by three days to 105 days. With resumption of demand, liquidity of secondary property increased by 2.9 percent. Some 7,000 apartments were proposed on the market
In November, the dynamics of transaction on the secondary residential market in Baku increased by 1.3 percent. The share of the first housing on the second housing market reduced by 3.2 percent to 58 percent. Offers decreased by two percent on the secondary residential market in Baku. About 6,850 apartments was proposed on the market.
Large part of the portfolio of the second market was made up by the buildings in Baku's districts of Yasamal, Nasimi, Narimanov and Khatai, which comprises 78.6 percent of the secondary housing market.
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