Which homes are mostly demanded in Baku’s housing market?

/By AzerNews/

By Amina Nazarli

In November 2014, the average price of one square meter in the secondary market in Baku declined by 0.56 percent in comparison with October standing at 1,619 manats ($2,065).

In November 2013, the price of one square meter in the secondary market made up 1,628 manats ($2,076), said “MBA Group” consulting company.

The highest price in the secondary market in November was registered in Sabail and Nasimi districts of Baku, standing at $3,100 and $3,300 respectively.

The lowest price was registered in Khatai standing at $650 and Binagadi district-$670.

Most of the homes sold in the secondary market in Baku in November were expensive ones (higher than 1,250 manats for one square meter). They constituted 80,7 percent of the total sales.

The cheap flats (less than 800 manats per square meter) made up 0.9 percent of the total sales.

The remaining 18.5 percent went to the flats which were sold for 800-1,250 manats per square meter.

A number of proposals in the secondary market of Baku during this period were 2,055. It is less by 9.97 percent than the figure for previous year. But, it is more by 22.4 percent in comparison with the figure of December.

In November, the prices for one, two and four-room apartments decreased by 1.98, 0.87 and 1.42 percent respectively. While a demand for three-room apartments rose by 0.67 percent.

The most demanded homes in the secondary market are three-room flats (35.9 percent), then come two-room (32.6 percent), one-room (19.4 percent), four-room (10.4 percent) and five-room homes(1.7 percent).

Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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