Bank Of Baku

Previously owned home market steady in Azerbaijan, Sep.

Previously owned home market steady in Azerbaijan, Sep.
# 30 October 2009 16:14 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. There was a 0.7% rise in secondary housing market deals in Baku during September, compared to August, said the Public Union of the Real Estate Market Participants.

According to the survey, there was a 27% month-on-month increase in new homes supply but the total supply increased by 8.3%.
The price index dropped by 0.5 percentage points, and average price fell by 0.2% to $1 280/sq.m from $1 282. This level is close to the level reached in 2007.

Homes priced below average price ($1 280 per sq.m) accounted for 55.5% of the market.

Residential property exposure time decreased by 6 days to 102 days.
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