The names of first-year students enrolled in colleges and technical schools of Baku have become clear. Many provincials have scurried in search of tenements, which determined the activity of this segment of the housing market.
In late July, there was an increase in prices - compared to June there was a significant jump (12%), which is in the normal range - at an average annual price rise of about 10%. According to realtors - private traders, the prices will continue to rise in August - early September. Overall, however, the real estate market is in stagnation.
The greatest demand in Baku is for rental apartments in the houses located near metro stations, and especially specialized universities. Demand has increased for apartments in the area of Baku State University, Azerbaijan State Economic University, the Academy of Oil and Gas and Azerbaijan Technical University. --17D-
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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