Azerbaijan, Baku, July 2 / Trend U.Ismayilova /
Prices on the Baku secondary real estate market decreased by 1.2 percent to $1,132 per square meter in May compared to $ 1,146 in April, the Property Market Participants public organization.
In May, price rise was not observed in any district, but drop was recorded in Nizami District of Baku (1.3 percent).
The share of the second real estate market offered at prices lower their average price made up 59.3 percent. The share of newly-built buildings on the secondary market hit 61.2 percent.
The average price of one room totaled $45,437 in May. The average price of apartment made up $117, 449.
Proposal on the market reduced by 0.8 percent compared to April. About 6,558 apartments were proposed on the market compared to 6,600 in April. 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 and Garadagh - 0.3 percent.
The share of the one-room apartments on the market in May was 14.8 percent, two- room - 37.6 percent, three-room - 39.1 percent and four-room- 7.6 percent, five-room - 0.8 percent.
In April, the dynamics of transaction on the secondary residential market in Baku reduced by 0.6 percent.
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