BAKU, Azerbaijan, May 14
By Matanat Nasibova – Trend:
The price of housing in the secondary market of Baku increased by 2.05 percent in April 2020, and on an annualized basis – by 2.76 percent, Director General of Azerbaijan’s MBA Group consulting company, Nusrat Ibrahimov told Trend.
In April 2020, the price of apartments in the secondary housing market amounted to $997 per square meter.
On an annualized basis, the average price of apartments in the secondary market increased by 2.76 percent.
The total volume of offers in the secondary housing market increased by 9.53 percent over the reporting month, while on an annualized basis, this figure increased by 7.83 percent.
At the same time, the average price of housing in the secondary market amounted to $671 per square meter.
The price for one square meter of a one-room apartment was $531, a five-room apartment – $1,215.
Among expensive apartments on the secondary market, an annual increase of 2.8 percent was observed.
In the reporting month, the average price of housing in the primary market increased by 1.31 percent, and year on year rose by 2.7 percent.
The total volume of offers in the primary housing market increased by 2.76 percent over the month, and on an annualized basis - by 2.28 percent.
The price of apartments in the primary market rose by 1.02 percent over the reporting month, and year on year - by 2.79 percent.
During the reporting month, the price for one square meter of housing in the primary market amounted to $782 in April 2020, which is 2.9 percent more compared to April 2019.
As for offers on the secondary real estate market, the majority of housing (43 percent) accounted for three-room apartments, followed by two-room (31 percent) and one-room (22 percent) apartments.
Multi-room apartments (four rooms and above) accounted for over 19 percent of the proposals.
The largest number of apartments offered in Baku for sale in the secondary segment were in Yasamal district - 28 percent, 16 percent - in Khatai district, 13 percent – in Nasimi district, Narimanov and Binagadi districts - 19 percent each.
The remaining districts of Baku accounted for less than 1.7 percent of all offers in the secondary housing market.
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