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Previously owned home market reaches two-year low in Azerbaijan

Previously owned home market reaches two-year low in Azerbaijan

23 April 2009 16:57 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. There was a 3.1% drop in secondary housing market in Baku during March, said the Public Union of the Real Estate Market Participants.

According to the survey, there was a 0.9% month-on-month increase in new homes supply while the supply of previously-owned homes remained steady.

Homes priced below average price ($1 259 per sq.m) accounted for 61.36% of the market.

According to surveys, the passivity reached a two-year high in this segment of the market.

Residential property exposure time increased by 4 days to 115 days.

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