Azerbaijan, Baku, Nov. 5 / Trend , A.Akhundov /
Activity in the secondary housing market in Baku was lower in October than in the previous month, MBA Group CEO Nusret Ibrahimov told Trend on Saturday.
"This is linked with the fact that many potential buyers took a wait due to the likely softening of mortgage lending," Ibrahimov said.
He said the decrease in activity affected the number of transactions and prices in the market.
In October, the proposals on the secondary housing market declined by 4.2 percent to 3,882 apartments, the number of transactions - by 0.9 percent to 439, but the exposure period increased by 0.7 percent to 136 days.
"The share of old apartment buildings continued to decrease in the portfolio of proposals and the share of new apartments increased," he said.
Mr. Ibrahimov said most of the apartments proposed in October were in Narimanov (23.1 percent), Nasimi (22.7 percent) and Yasamal (20.7 percent) districts of Baku.
"Bulk of the proposals accounted for the renovated apartments in new buildings (1,350). In addition, there were proposed apartments of the Leningrad (519) and experimental (489) projects, Khrushchev (417) , Stalinka (399) and others, he said.
The share of one-bedroom apartments in a portfolio of proposals reached 12.4 percent, two-room - 36.3 percent, while the majority were two-bedroom (39.7 percent) apartments.