BAKU, Azerbaijan, May 20
By Fidan Babayeva - Trend:
The average housing prices in the secondary market of Azerbaijan’s Baku city in April 2021 grew by 1.08 percent, compared to March and reached 1,686 manat ($990) per square meter, director of MBA Group consulting company Nusrat Ibrahimov told Trend.
At the same time, the average cost of housing in the primary market in the reporting month decreased by 3.11 percent compared to March and made up 1,365 manat ($800).
Meanwhile, the prices for land plots in Baku increased by 2.63 percent on a monthly basis and reached 21,263 manat ($12,510) per hundred square meters.
The cost of 1 square meter of the area of commercial facilities in April rose by 1.92 percent compared to the previous month and amounted to 2,973 manat ($1,750).
According to Ibrahimov, 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.
“Such price changes in the market are temporary,” he added.
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