Baku. Nijat Mustafayev - APA-Economics. Against the backdrop of global financial crisis Azerbaijan real estate market is expected to relatively recover in autumn-winter this year, said Nusret Ibrahimov, head of MBA Consulting, who is one of the founders of the Baku Realtors Association.
According to him, the market of real estate remains relative calm now.
“Presumably, this situation will last until autumn. And in the autumn-winter recovery may arrive. This may increase prices of apartments by 4-5%,†he added.
In his words, given that 4 600-4 700 sale-purchase transactions a month (3 500 in Baku) were carried out previously, the number of transaction dropped by 40%.
He also said that prices of real estate objects fell by 20-23%.
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