Expert: Housing prices continue to rise in Baku in 2013
Azerbaijan, Baku, Jan. 10 / Trend A. Akhundov /
Real estate prices will increase by five to six per cent in Baku in 2013, general director of MBA Group consulting company Nusret Ibrahimov said today.
"Prices will continue increasing in the market in 2013," he told Trend today. "The country will take certain actions to prevent the strong price growth, including measures to restrict the growth of the money supply on the market. One can expect low inflation in 2013 as a result of reducing the inflation growth rate by late last year. Moreover, oil and gas prices have recently declined. All these factors must halt the growth of real estate prices."
He said that one can expect low prices on the land market.
"The prices are not expected to increase in the land market," he said. "The construction sector must be as active as in the pre-crisis years of 2002-2007, but this is not expected in 2013."
He added that the price increase will continue in the housing market and that of commercial facilities.
"The housing market is expected to increase by six to seven per cent," he said. "The market of commercial facilities will not increase by more than two to three per cent. In 2012 a relatively high growth was fixed in the housing market by 8.5 per cent (in 2012 one square metre of housing in Baku cost on average $1314 and in 2011 - $1214)."