BAKU, Azerbaijan, April 15. While the real estate market showed stability in 2020 due to the pandemic, there has been a clear upward trend in prices in subsequent years, said Shahin Mahmudzade, Director General of the Central Bank of Azerbaijan (CBA), Trend reports.
Speaking today at a press conference on financial stability, Mahmudzade explained that compared to the end of 2020, housing prices have increased significantly by 32.4 percent.
"Although investments directed towards the construction sector have fluctuated at times, funding allocated for residential building projects and the share of investments directed towards fixed capital have been increasing. Recently, this trend has intensified, leading to greater market activity.