Price for primary housing increases in 2011

Business Materials 27 January 2012 18:37 (UTC +04:00)

Azerbaijan, Baku, Jan.27 /Trend A.Akhundov/

The average apartment price in the primary housing market increased by 1.7 percent, while the average price per square meter increased by 5.3 percent, to $855 dollars in December 2011. It was $812 in December 2010.

CEO of consulting company "MBA Group" Nusret Ibrahimov told about it to Trend on Friday.
"Construction companies are trying to stabilize prices. Their loan portfolios are growing, which leads to increase in prices," Ibragimov said.

Although prices for non-residential areas in the primary market remained stable in December in 2011 they had a tendency to increase, Ibragimov added.

Price for square meter of non-residential area in the primary market increased to $2836 on Dec. 2011 compared to Dec. 2011, when it was $ 2,800.