Baku, Azerbaijan, Dec. 18
By Emin Aliyev - Trend:
The average cost of secondary housing increased by two per cent in Baku in November compared to the previous month and amounted to $1,322 per square metre, the Property Market Participants Public Association's report following the monitoring results of Baku's real estate market said on Monday.
The average cost of housing on the secondary market increased by 26.5 per cent compared to the same period of 2012.
According to the monitoring results, the volume of supply on the secondary housing market declined three per cent in November. The number of apartments offered for sale decreased to 4600.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in the total supply portfolio was 78.7 per cent. The formation of a portfolio of these four districts for a long time has been associated with the appearance of new buildings on the market. The research shows that a portfolio of supply on the primary market is mainly formed by four districts.
The secondary housing share proposed for the market at a price lower than average, amounted to 52.6 per cent. The average room rate on the secondary market in November was 2.89, the average price of each room - $50,114 and apartment - $118,569.
The dynamics of concluding the secondary housing purchase-sale deals increased 1.7 per cent per month.
Translated by NH
Edited by SM