Baku, Azerbaijan, Mar. 26
By Matanat Nasibova – Trend:
By the end of March 2019, prices in the housing market of Baku will remain stable, director general of the MBA Group consulting company and real estate expert Nusrat Ibrahimov told Trend.
According to the expert, a slight increase in prices in the secondary housing market is expected next month.
"I believe that the rise in prices on the secondary housing market may amount to about two percent in April of this year. This is quite natural, because prices in this segment of the market have noticeably decreased in February; they will gradually stabilize in March, and in April we will observe a slight increase. I think that the secondary housing market will be much more active next month than in March," Ibrahimov said.
According to the expert, prices in the land market may increase closer to the end of this month.
“As a rule, after the Novruz holiday, the prices for land plots begin to rise in price, and, most likely, in April we will already see a noticeable price increase in this market segment. With this, prices for commercial objects will remain relatively stable in March-April,” Ibrahimov said.
The expert also noted that the period of March-April of the current year should be the most favorable time for potential car buyers in the automotive market.
"There was a noticeable increase in prices in the automobile market of Azerbaijan in December last year, as well as in January-February of this year. However, prices are expected to gradually decrease starting from the second decade of March until the end of April, which significantly activates the demand dynamics in this market. Two months are an active period for buying and selling cars, therefore, I believe that prices in this market will begin to stabilize from the end of March, and in April the market will fully restore the lost positions after a long period of calm in the winter period,” said Ibrahimov.
Last month, the rise in prices in the secondary housing market amounted to 1.11 percent (from 1,533 to 1,550 manats per square meter), while the primary housing market experienced a decline in prices by 1.14 percent (from 1,683 to 1,654 manats per square meter).