Secondary housing rise in price in Baku
Azerbaijan, Baku, Feb.18 / Trend A.Akhundov /
The average price per square meter on the secondary housing market increased from $1380 in December 2011 to $1430 in Baku in January 2012, CEO of consulting company "MBA Group" Nusret Ibrahimov told Trend on Saturday.
"It is directly connected with the stabilization of demand in the market" Ibragimov said.
Ibragimov noted that the average price of apartments increased compared to the same period in 2011, due to an increase in the proportion of expensive apartments in the offerings portfolio.
"Apartments worth $68-75 thousand constitute the largest market share - 26.9 percent. Average room rate is 2.41. Price of each room is $48,160, the average cost of apartment - $116, 066, the nominal value of apartments - $106, 392" Ibragimov said.
Price rise was observed in apartments built on "Kiev", "Leningrad", "Minsk" and "French" projects.
"It is mainly associated with the fact that the apartments built on these projects, are mortgage subject. "Akhundov", "Italian" and apartments in buildings built on architectural project fell in price as well," the researches indicate.