Finansopedia.ru
In the first nine months of this year the ownership of more than 126,000 real estate objects was registered in Azerbaijan. Compared to the same period of 2015, the real estate market activity decreased by 13%, Turan was told in the State Committee for Property Affairs.
The share of the primary real estate market accounted for 36,000 items this year, which is 28% higher than the figure for the first nine months of last year. In the secondary market purchase and sale regarded 90,000 items, which is 24% less than in January-September 2015.
Experts note that the economic crisis in Azerbaijan also affects the real estate market. Property prices are unstable and prone to decrease; therefore, investors are showing restraint. This trend has been observed since 2015. For the first three quarters of last year, activity in the property market fell by 3.7% ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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