Housing prices going up in Azerbaijan

Business Materials 15 November 2018 18:18 (UTC +04:00)

Baku, Azerbaijan, Nov. 15

By Sara Israfilbekova - Trend:

Housing prices in Azerbaijan increased by 5 percent in January-October 2018 compared to the same period of the last year, general director of the MBA Group, real estate expert Nusrat Ibrahimov told Trend.

He noted that the average monthly growth of prices is expected at 1.5-2 percent in November-December. As a result, a 6-7 percent growth is expected by the end of the year.

Touching upon other main segments of the real estate market, the expert noted that the prices grew in the land market and declined in the commercial premises market.

"For instance, a significant growth has been observed in the land market from the beginning of the year. The growth in the last year amounted to 6.8 percent, and a growth by 6.73 percent is expected this year. A decline by 8.93 percent is observed in the commercial premises market compared to the last year," Ibrahimov said.

The general growth in the real estate market is expected at 2-3 percent this year and at about 5 percent next year, Ibrahimov noted.