Secondary housing market in Baku slightly increases in price
Azerbaijan, Baku, 28 May / Trend, E. Aliyev /
In April, the middlecover cost of secondary housing increased by 0.7 percent compared to the previous month and amounted to $1,211 per square meter, according to a statement by the Real Estate Market Participants public association
According to the information, demand for the secondary housing market declined by 3.7 percent in April. The number of apartments offered for sale decreased to 5,400.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in overall supply portfolio was 78.7 percent. Formation of a portfolio at the expense of these four areas for a long time has been associated with the entry into the market of new buildings in these areas. Studies show that the primary market portfolio of supply is formed mainly by these four districts.
The proportion of secondary residences proposed on the market at a price lower than the average amounted to 53.1 percent. The average room rate on the secondary market in July was 2.79, the average price of each room - $46472 and of an apartment - $113,162.
The dynamics of deals for the sale and purchase of secondary homes has increased over the month by 1.5 percent.