Expert: No significant rise in prices in Azerbaijani real estate market for next 2 years

Business Materials 17 May 2011 18:46 (UTC +04:00)

Azerbaijan, Baku, May 17 / Trend A. Akhundov /

There will be no significant rise in prices in the Azerbaijani real estate market for the next two years, "MBA Group" consulting group director general Nusret Ibrahimov told Trend.

"There is no relevant ground for the rise in prices," he said. "The prices rise when the market is attractive to investors. Today, buyers of real estate are mainly people who really need housing, young families, etc., rather than investors. They almost do not create price pressure in the market."

He said that it is more profitable to make capital investments in bank deposits now than investing in real estate.

"If the income from investments in the bank is 1.1 percent per month, the income from the estate is 0,1-0,6 percent," he said. "In this regard, the bank deposits are more profitable."