Baku, Azerbaijan, Feb. 3
By Abbas Akhundov - Trend:
The cost of one square meter of resale housing in the Azerbaijani capital of Baku has risen by almost 20 percent in 2013, director general of the 'MBA Group' consulting company, Nusret Ibrahimov told Trend on Feb. 3.
He said that the average price per square meter in the resale housing market in Baku was $1,807 in December, whereas in January last year it was in $1,508.
By late 2013 the share of expensive houses in the proposal portfolio was 45.42 percent, and cheap houses were 54.58 percent.
Most of the portfolio (35.9 percent) accounted for apartments worth $85,000-$95,000.
The average number of rooms was 2.59, the average price of each room was $63,617, the average cost of an apartment was $164,768.
Ibrahimov said the prices for apartments in the resale housing market will continue increasing and is expected to increase by 10-12 percent in 2014.
Translated by E.A.
Edited by C.N.