Prices fell slightly in Azerbaijan’s primary housing market

Prices fell slightly in Azerbaijan’s primary housing market
# 22 April 2011 13:24 (UTC +04:00)
According to monitoring conducted in primary housing market by Real Estate Market Participants Public Union, average price of new buildings decreased by 0.8% to AZN 841 sq. meters against AZN 848 sq. meters in February. The main reason of depreciation is related to growth of competitiveness level in the market in connection with seasonal activeness.

That is, upper floors from the 14th floor in most of buildings are purchased, that is why, owners want to sell these apartments by offering lower prices and etc. Depreciation has been recorded on all districts (especially Yasamal and Khatayi) and categories.

Prices went up 0.8% compared to beginning of the year, it made 4.4% compared to a year ago, 29.6% compared to crisis period.


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