Baku`s Primary housing rose by more than 3% in January
Baku, Azerbaijan, Feb. 28
By Abbas Akhundov Trend:
Average price per one square meter of the primary housing in Baku rose by 3.05 percent - up to 1181 dollars in January, the MBA LTD consulting company told Trend on Feb. 28.
The primary housing went up by 33.9 percent compared to January of last year.
"Price rise which is observed in recent months, continued in January 2014. The reason of price increase is the expansion of the demolition process in the capital, the gradual decline in the share of cheap apartments in connection with the reduction in the volume of construction, that eventually led to buying of the apartments (offered at high price), which previously were low demand," the company said.
Furthermore, a square meter of non-residential facilities rose by 10.9 percent at the primary market in January compared to 13.87 percent in January 2013. Its average price was $3225 in January.