Supply of rented housing market increases in Baku

Business Materials 9 January 2012 15:39 (UTC +04:00)

Azerbaijan, Baku, Jan. 9 / Trend A. Akhundov /

The volume of supply on the rental housing market increased by 12.2 per cent to 211 apartments in Baku in December last year, MBA Group consulting company director general Nusret Ibrahimov told Trend today.

"This increase is connected to the beginning of seasonal months of activity," he said.
He said that in December, the share of expensive apartments and houses (a monthly rent of more than $1000) in a portfolio of proposals, increased to 11.2 per cent and, cheap housing (rent up to $ 500 reduced to 45.5 per cent.

"About 84.1 per cent of expensive housing was planned for downtown areas," Mr Ibrahimov said. "The remaining 15.9 per cent fell to houses in the third and fourth zones of the city."
He added that in November last year, the share in the portfolio of one and two-room apartments hit 23.4 and 44.1 per cent. These indices changed in December. The share of one-room apartments increased to 24.6 per cent and two-room apartments reduced to 37.4 per cent.

"Most proposed flats in December (62 per cent) fell to the second zone, 25 per cent the first zone, 10 per cent - the third zone and three per cent the fourth zone," he said.