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Secondary housing market grows in Azerbaijan

Secondary housing market grows in Azerbaijan

09 March 2011 11:06 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. In February, 2011, the secondary housing market has grown in Azerbaijan. According to Property Market Participants PU, the closed deals in secondary housing market of Azerbaijan rose 0.7%, in February.

PU also says the prices of old buildings declined by 2%, in February. As the result, the average prices in Baku dropped to 1007 dollar / mÂ² from 1028 dollars / mÂ².

Experts relate this to the being of prices on secondary market higher than real prices of property. At the same time, investigations show that most of apartments on secondary market are put up to sale to meet the certain needs of proprietors. And prolonging of sale term causes the decline of prices.

Most attractive districts for activity coefficient were Khatai and Yasamal, in February.

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