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Wide review prepared on real estate market of Azerbaijan

23 December 2011 10:26 (UTC +04:00)

Today the presentation has been held for the document. Company president Nusret Ibrahimov said that only the information on the period after 2000 was possible to collect during the preparation and that is why the review covers only the last 11 years.

To him, the main moment in the review was connected with determination of price index and thus prices of 2000 were taken as a base. So, price index in the secondary housing market has been determined at 5.76, which show that the prices increased by 5.76 times during the past 11 years. Average prices rose from $225 up to $1,297 during this period.

Moreover, price index made 4.31 in initial market. Thus, the price of 1 sq. meters increased from $181.1 to $780. The review reflects also areas, districts, drafts, number of rooms, rental fees and etc. indicators.

Note that, the review has been prepared by technical support of IFC. Participation of IFC here aims at supporting financial sector, as well as banks and insurance companies in operations on real estate.