BAKU, Azerbaijan, Apr.6
By Fidan Babayeva – Trend:
The average cost of housing in the secondary market of Azerbaijan’s Baku in February 2021 declined by 0.79 percent compared to the preceding month, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend.
Besides, according to Ibrahimov, the average cost of housing in the primary market in the reporting month was by 0.22 percent less than in January of the same year.
Meanwhile, on a monthly basis prices for land plots increased by 2.4 percent, and the cost of one square meter of commercial facilities in the primary market - by 5.1 percent.
The expert noted that many trade and service sectors have suspended the activity in the city due to the COVID-19 pandemic.
“As a result, the leased premises were returned, which led to an increase in offers on the rental market and a decrease in prices. Such situation is temporary,” he added.
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