Bank Of Baku

Previously owned home market reaches two-year low in Azerbaijan

Previously owned home market reaches two-year low in Azerbaijan
# 17 March 2009 16:08 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. There was a 3.9% drop in secondary housing market in Baku during February, said the Public Union of the Real Estate Market Participants.
Accorsting to the report, there was a 4.4% month-on-month increase in supply due to new homes put on sale while the supply of previously-owned homes dropped.
Homes priced below average price ($1 321 per sq.m) accounted for 61.3% of the market. According to surverys, the passivity reached a two-year high in this segment of the market.
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