Resale housing ups by 3,71% in January
Baku, Azerbaijan, Feb.22
By - Abbas Akhundov Trend:
The cost of one square meter of resale housing in the Azerbaijani capital of Baku has risen by 3,71- from $ 1,807 to 1, 874, 'MBA LTD' consulting company told Trend on Feb.22.
"The increase in prices caused by a small number actually offered housing for sale and population assumptions on price increase in the country this year. One of the reasons that gives rise to such expectations is the increase in fuel prices at the end of last year. Seasonal factor also influences on price rise of property," the company said.
Most part of the portfolio made up cheap houses within a month that stems from market conjuncture or the nature of demand. The share of expensive homes decreased from 45.42 to 44.17 percent, while cheap, respectively, increased from 54.58 to 55.83 percent in January.
The average price of expensive homes increased by 4.75 percent, cheap - by 2.4 percent.
Most of the portfolio (35.9 percent) accounted for apartments worth $85,000-$95,000.
The average number of rooms was 2.57, the average price of each room was $65,983, the average cost of an apartment was $166,937.
Translated by S.I.