...

Housing prices down in secondary market of Azerbaijan’s Baku

Business Materials 19 April 2021 19:32 (UTC +04:00)
Housing prices down in secondary market of Azerbaijan’s Baku

BAKU, Azerbaijan, April 19

By Fidan Babayeva - Trend:

The housing prices in the secondary market of Azerbaijan’s Baku city in March 2021 decreased by 2.4 percent compared to February and reached 1,668 manat ($981) per square meter, director of MBA Group consulting company Nusret Ibrahimov told Trend.

At the same time, the average cost of housing in the primary market in March 2021 increased by 3.11 percent compared to February and reached 1,394 manat ($820).

The prices for land plots in Baku increased by 4.42 percent in March 2021 on a monthly basis and reached 20,719 manat ($12,187) per hundred square meters.

The cost of 1 square meter of the area of ​​commercial facilities in the reporting month decreased by 2.51 percent compared to February and amounted to 2,917 manat ($1,715).

“Due to the coronavirus (COVID-19) pandemic, a number of trade and service sectors suspended their activity, and therefore the leased premises were returned, which led to an increase in offers on the rental market and a decrease in prices,” Ibrahimov said. “Such price changes in the market are temporary.”

---

Follow the author on Twitter: @Fidan_Babaeva

Tags:
Latest

Latest