Secondary housing in Baku cheapens
Azerbaijan, Baku, Aug. 24 /Trend A.Akhundov/
Prices in the secondary housing market of Baku decreased by 0.6 percent in July - up to $980 per square meter, a public organization Participants of the property market told Trend.
Relatively substantial reduction in price during the month was observed in Sabail district (by 1.3 percent).
The supply volume in the secondary housing market increased by 0.5 percent in July compared to June. Some 7650 apartments were put for sale in July.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in the portfolio of offerings in the market amounted to 78.7 percent. A portfolio has been formed due to these four districts for a long time. This is connected with new buildings appeared in these districts. The research shows that the portfolio of offerings is formed in the primary market mainly due to these four districts.
The share of secondary housing proposed on the market at a price lower than the average, amounted to 53.3 per cent. The average room rate in the housing in the secondary market in July was 2.79, the average price on each room - $44,130, apartments - $110,846.
Dynamics of transactions of purchase and sale of secondary housing decreased by 1.3 percent last month.