Secondary housing rises in price in Baku
Azerbaijan, Baku, July 5 / Trend A.Hasanov /
The average price per square meter on the secondary housing market increased from $1,437 in April 2011 to $1,446 in Baku in May 2012, MBA Group said on Thursday.
In May 2012, the number of apartments on the secondary market for sale amounted to 3,816. The share of one-room apartments is 14.3 percent, two-room - 31.5 percent, three-room - 41.2 percent, four-room - 11.2 percent.
In portfolio of offers the largest share belongs to Yasamal district of Baku - 23 percent, followed by Narimanov district - 22.6 percent, Nasimi - 18.9 percent, Binagadi - 11.2 per cent and so on.
"The share of low-cost housing on the secondary market decreased by 0.6 percent to 57.7 percent, the share of expensive housing increased by 0.8 percent - to 42.3 percent," a statement said.
In May, a demand on the secondary housing market declined by 4.7 percent, the number of deals - by 5.6 percent, the exposure period of the property remained the same and amounted to 123 days.
"Apartments worth $65,000-75,000 constitute the largest market share - 26.3 percent. Average room rate is 2.55. Average price of each room is $47,010, the average price of apartment - $119, 876, the nominal value of apartment - $107,582," the statement 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," the report said.