BAKU, Azerbaijan, Oct. 28
By Matanat Nasibova – Trend:
The price of housing in Baku’s secondary market decreased by 2.39 percent in September 2019 compared to August 2019, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend on Oct. 28.
On an annualized basis, this indicator for September 2019 decreased by 5.6 percent compared to September 2018.
In September 2019, the average price of apartments in the secondary market amounted to $941 per square meter while in the same month of last year this figure was $974.
On an annualized basis, this indicator decreased by 3.39 percent.
There were 2,065 offers in the secondary housing market in September 2019, while there were 2,189 offers in September 2018.
On an annualized basis, this indicator decreased by 5.66 percent.
In the secondary market in September this year, the cost of one square meter of a one-room apartment was $916 while the cost of one square meter of a five-room apartment - $942.
At the same time, the cost of one square meter of a one-room apartment was $920 while the cost of one square meter of a multi-room apartment - $1,014 in 2018.
Among expensive apartments in the secondary market, a decrease in their value by 1.3 percent year on year was observed.
At the same time, the average price of apartments in the primary market in 2019 amounted to $784 per square meter while this figure was $698 in 2018.
On an annual basis, this indicator increased by 12.32 percent.
The total number of offers in the primary housing market reached 770 in September 2018 and for the reporting month of this year there were 511 offers.
In the primary market, the cost of one square meter of a one-room apartment in September 2019 amounted to $689, last year this indicator amounted to $580 per square meter of housing.
As for the supply in the secondary real estate market, this year the main part of housing (35 percent) accounted for three-room apartments, followed by two-room (33 percent) and one-room (12 percent) apartments.
Multi-room apartments (four rooms and more) accounted for 19 percent of the proposals.
The biggest number of apartments offered for sale in Baku in the secondary market accounted for Yasamal district - 26 percent, Khatai district – 17 percent, Nasimi district - 13 percent, Narimanov and Binagadi districts - 16 percent each.
The remaining districts of Baku account for about 5 percent of all offers in the secondary housing market.