Azerbaijan, Baku, Dec 30 /Trend A.Akhundov/
The average price of existing homes declined in Baku during November by 0.6 per cent, up to $959 per square metre compared to $965 in October, the public organization Property Market Participants told Trend on Thursday.
The volumes of supply on the secondary housing market increased by 1.4 per cent in November compared to October while the average price in turn, decreased by 0.6 per cent.
The portfolio share offering on the market in the Yasamal, Nizami, Narimanov and Khatai districts amounted to 78.7 per cent. The forming of a portfolio for these four areas which took a long time, was down to the completion of new buildings.
There hasn't been a price increase in the secondary housing market within a month. The largest decline in prices was noted in Surakhani district at 1.4 per cent.
The share of secondary residences proposed on the market at a price lower than average, amounted to 53.6 per cent. The average room rate in the proposed housing on the secondary market was 2.78, the average price of each room $43, 297, whilst apartments were $111, 163 in November.
The price index declined by 1.1 points for the month, reaching 175.9 points. The number of sale transactions of secondary homes increased by 0.7 per cent.