Bank Of Baku

Monitoring: Passivity in real estate market continues

Monitoring: Passivity in real estate market continues
# 13 August 2012 12:30 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Te passivity in Azerbaijan’s real estate market during June-July continues, MBA Ltd Evaluation and Consulting Company reported.
Specialists say the activity in real estate market decreased in August: “The decrease of market was observed in all segments of markets. This is related with decrease of money supply, limitation of credit opportunities and crisis in the world market”.
Share of the cheap apartments in the sale portfolio rose 2% to 57.5%, expensive apartments decreased by 0.2%to 42.5%.
“During the month, supply volume in secondary apartment market slipped 14.7%, number of closed deals – 7%, exposition date of the property soared to 134 days. ”
Old apartments in the supply portfolio continued to decrease and instead of it, new supplies rise. The price index with the changeable structure dropped 0.9% to 6.32, with the permanent structure reduced 1.5% to 3.36 points.
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