Nusrat Ibrahimov, the Executive Director of the Public Organization вЂ" Participants of Real Estate Market, informed Trend that the housing fund of Azerbaijan currently reaches 104 mln. square meters with 1.7 mln. accommodations falling at Baku.
According to him, the housing fund of the Capital reaches 27 mln. square meters. 20 mln. square meters out of them needs renovation. The average period of housing constrictions of Azerbaijan housing fund is 30 years.
The expiration date of the foundation of average statistical construction is 150 years at 25 years of using the construction itself. Almost all the houses and accommodations of the secondary real estate market in the country should be renovated, he said.