Prices in secondary housing market drops again

Azerbaijan, Baku, June 1 / Trend, U.Ismayilova

Prices on the Baku secondary real estate market decreased by 1.3 percent to $1,146per square meter in April compared to $ 1,161 in March, the Property Market Participants public organization.

In April, price rise was not observed in any district, but drop was recorded in Nizami District of Baku (1.3 percent).

In April, the share of the second real estate market offered at prices lower their average price made up 59.1 percent. The share of newly-built buildings on the secondary market decreased by 0.4 percent to 61.2 percent compared to March.

In April, the average price of one room totaled $45,456. The average price of apartment made up $118,876.

In April, proposal on the market reduced by 0.9 percent compared to March. About 6,600 apartments were proposed on the market compared to 6,700 in March. Most of the portfolio of the market (80.3 percent) fell to apartments, offered in Yasamal, Nasimi, Narimanov and Khatai districts of Baku.

The Share of the Binagadi district in the portfolio in this segment of the market amounted to 7.9 percent, Nizami - 5.2 percent, Khazar (former Azizbayov district) - 0.6 percent, Sabayil - 4.2 percent, Surakhani - 0.8 percent, Garadagh - 0.3 per cent.

The share of the one-room apartments on the market in April was 14.6 percent, two- room - 37.3 percent, three-room - 39.3 percent and four-room- 8 percent, five-room - 0.8 percent.

In April, the dynamics of transaction on the secondary residential market in Baku reduced by 0.5 percent.

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