TODAY.AZ / Business

Baku real estate market prices up

13 August 2018 [14:14] - TODAY.AZ

By Azernews


By Rashid Shirinov

Prices in the Baku real estate market increased by 2.06 percent in July 2018 compared to June, said Nusret Ibrahimov, Director General of the MBA Group consulting company and real estate expert.

He noted that the price increase has affected almost all segments of the market over the past month, except for commercial facilities.

“Prices in the primary housing market have increased by 0.28 percent in a month, in the secondary market – by 0.1 percent, in the land market – by 3.71 percent, in the market of private and country houses – by 2.64 percent,” the expert told Trend on August 12.

As for rental housing prices, they have risen by 3.98 percent, while rentals for commercial facilities increased by 1.32 percent, and prices in the commercial property market decreased by 0.26 percent in July.

Ibrahimov noted that the rise in prices in July is a usual recovery for the real estate market after the decline in June.

The expert added that compared with the end of July 2017, prices in the real estate market have increased by 1.7 percent, and the growth is mainly due to the rise in prices in the commercial property rental market and the land market.

“Compared with the end of July 2017, prices in the secondary housing market increased by 5.44 percent last month, in the land market – by 12.1 percent, and in the market of commercial facilities rental – by 14.51 percent,” he said.

Meanwhile, prices in the primary housing market decreased by 1.55 percent, in the commercial property market – by 8.98 percent, in the rental market – by 3.56 percent, and in the market of private and country houses – by 5.22 percent.

Earlier Ibragimov mentioned that prices in the Baku real estate market can grow by six percent by the end of the year. In general, real estate in the capital is becoming more expensive, and this is mainly due to the markets of commercial housing, land, private and country houses according to the expert.

URL: http://www.today.az/news/business/172847.html

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