Prices in Baku’s secondary housing market announced

The average price per square meter in Baku's secondary market fell from $1,435 in July to $1,423 in June, MBA Group consulting company said on Monday.

During July the number of apartments on the secondary market for sale, amounted to 3954. The share of one-room apartments in a portfolio of proposals was 13 percent, two-room - 36.2 percent, three-room - 38.3 percent, four-room - 10.7 percent.

The highest supply on the secondary housing market took place in Yasamal district of Baku and reached 23.2 percent, followed by Nasimi - 20.9 percent, Narimanov district - 16.1 percent, Binagadi - 12.1 per cent and so on.

"The share of low-cost housing has increased by two percent to 57.5 percent, the share of expensive housing fell by 0.2 percent, reaching 42.5 percent," a statement said.

In July, supply on the secondary housing market declined by 14.7 percent, the number of deals declined by seven percent, and the period of exposure of the property has increased and amounted to 134 days.

Apartments worth $55,000 - 70,000 constitute the largest market share - 23.8 percent. The average room rate is 2.52. The average price of each room is $48,671, the average cost of apartment - $120,218, the nominal value of apartment - $104,618.

Prices declined, mainly, for apartments of "Minsk", "Leningrad" and "French" projects, which is mainly associated with the fact that the apartments built on these projects, are mortgage subject," the statement said.


/Trend/