Real Estate Market Stabilizes in February
Azerbaijan, Baku / corr. Trend U.Ismayilova / In February the real estate market stabilized in comparison to the previous two months. Participants of the real estate market reported on Saturday that 228 construction companies are building in Baku with an average of 15.3 storeys.
In Baku the average price of apartments rose 4.6% and comprised $929 per sq m. At the beginning of the year the rise in prices were intensive and the Azeri Rei index of average prices increased and reached 352.1 against 336.6 in January.
In February the increase of construction expenses had a negative impact on the profitability of the construction of houses and actually promoted a rise in the price of apartments.