Liquidity in secondary housing market remains stable: experts

Business Materials 27 January 2010 14:38 (UTC +04:00)

Azerbaijan, Baku, Jan. 27 / Trend U.Ismayilova /

In 2009, prices on the secondary housing market per square meter decreased by 3.7 percent to $1,186 compared to $1,231 in November, the Property Market Participants public organization said

"This figure is lower than the index observed in 2007," the organization said

In December, price rise was not observed in any district and the most significant drop was recorded in Yasamal district of Baku (4.1 percent).

The share of the apartments offered on the market lower their average price made up 58.2 percent

The average room rate hit 2.5. The average price of one room hit $46,721 and apartment-$112,650, respectively

In December, the dynamics of transaction on the secondary residential market in Baku decreased by 0.6 percent compared to November. The share of the new buildings on the second housing market hit 59.2 percent which is 3.5 percent higher than the figure in November.

Based on the agency's calculations, in December 2009, offers increased by 2.8 percent on Baku secondary residential market.

The liquidity of secondary property remains stable and level of risk still high, despite the resumption of a mortgage lending in the country.

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