Bank Of Baku

Real estate price fall “deepest” in land market, Azerbaijan

Real estate price fall “deepest” in land market, Azerbaijan
# 01 May 2009 15:20 (UTC +04:00)
Baku. Nijat Mustafayev - APA-Economics. Amid declining real estate prices, land parcels saw the “deepest” price drop, said Nusret Ibrahimov, head of MBA Consulting, which is one of the founders of the Baku Realtors Association.

According to him, the prices plunged by 30% and activity by more than 50% in land market.

In addition, he said liquidity is evaporating in real estate market.

“Given that the liquidity of the market was 85-86% in 2006-2007, but this is 62-63% now,” he added.

He said exposure time is about 19 months for a parcel.
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