Baku, Azerbaijan, April 10
By Anvar Mammadov – Trend:
In March this year, prices in the real estate market in Baku decreased 1.43 percent compared to February, Nusret Ibrahimov, director general of the MBA Group consulting company, real estate expert, told Trend on April 10.
He said that in general, the decrease is mainly related to reduction in the cost of apartments in the secondary housing market and in the market of commercial properties in Baku.
“Thus, compared to the end of February, prices in the secondary housing market decreased 3.63 percent, and prices in the market of commercial facilities decreased 3.51 percent,” he noted. “The decrease in prices was also observed in the primary housing market (by 1.12 percent), in the land market (by 0.06 percent) and in the commercial facilities rental market (by 1.16 percent), while prices in the rental market grew 2.59 percent.”
He added that in March 2018, prices in the real estate market in Baku grew 6.05 percent compared to the same period last year.
He said that prices for primary and secondary housing, land, and rental of housing increased for the year.
“Thus, prices in the primary housing market grew 5.48 percent, prices in the secondary market grew 3.27 percent, prices in the land market grew 5.12 percent and prices in the rental market grew 1.27 percent for the year (March 2017-March 2018),” he said. “This is while prices in the market of commercial facilities decreased 6.62 percent, and prices in the commercial facilities rental market decreased 0.12 percent.”