Activity on rental market in Baku reduced by 4.4 percent
Azerbaijan, Baku, July 8 / Trend U. Ismayilova /
The rental apartments decreased by 4.4 percent in Baku in May, prices - at 1.9 percent, MBA Group consulting company experts said.
The average price for an apartment in Baku in May was $677 compared to $690 in April, $695 - in March, $733 - in February, $729 - in January. The high level of prices for rental housing was recorded in August 2009 at $767 on average.
Average price for rent of a one-room-flat in May amounted to $324s, two-room - $ 428, three-room - $613, four-room - $1,127, five-room - $1,350, rental villas - $3,026 on average, and private homes - $870.
Rental portfolio increased by 2.9 percent in Baku in May. Most part of the market portfolio is formed by three-room apartments - 32,2 percent, and two-room - 28,8 percent. Most of the proposals on the market was created through the leasing of housing within $350-600, which accounted for 52.3 percent of the portfolio.
Most rental accommodation was offered in Nasimi (28.2 percent) and Narimanov (20 percent) areas.