Primary housing price increases by 1 percent in Baku in April

Business Materials 29 May 2013 20:43 (UTC +04:00)

Azerbaijan, Baku, May 29 / Trend E. Aliyev /

The prices increased by 0.8 percent to 864.3 manat per square meter at the primary housing market in Baku in April compared to the previous month, "Property Market Participants" organization said on Tuesday.

"The prices increased by 2.9 percent compared to the previous quarter and by 5.4 percent compared to the same period of last year," the organization said.

Housing prices in Baku fell by 27.6 percent (a square meter cost 1,194 manat that period) compared to the peak crisis period (September 2008) on the world financial markets.

The number of new buildings proposed at the market increased by one and totaled 401 in April. The number of construction companies decreased by one and hit 134.

The official exchange rate is 0,7846 AZN/USD on May 29.