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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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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