Azerbaijan, Baku, Jan. 16 / Trend U. Ismayilova /
Roughly 40 percent of the apartments are rented in Baku, executive director of the public organization "Property Market Participants" Ramil Osmanov said in an interview with the magazine "Dasınmaz Emlak".
"At present, tens of thousands of families live in rented flats in Baku. They are mainly immigrants from regions of the country, as well as foreigners who arrived in Baku for work or study", he said.
He said that the average rental price in Baku varies 300-900 manat. The average price is 950 manat in the first zone, 730 manat in the second zone, 330 manat in the third zone. The highest prices were fixed in the central streets of Baku - Rashid Behbudov and S. Vurgun streets. The average price in these areas is 1,500 manat. The lowest prices were recorded in the fourth suburban area - 100 manat per month.
The rental prices are increasing by 10-12 percent in the middle of the school year. The demand for housing decreases in February and March, May and June, November and December.
He said that the demand for rental apartments declined for last year. The decline in demand occurred in 2010 twice compared to 2009.