February Stability in Primary Housing market

In February, the primary housing market (PHM) in Baku and other cities showed no recovery.

According to experts, the average price index in this segment is 810 manats per 1 sq. meter. Compared to the same period last year, prices were down 2.7%. Five years ago prices were higher by 30.9%. The most active trade was in the Yasamal, Khatai and Nasimi districts of the capital. Stagnation in this segment is due to the monopolization of the construction sector.

At the same time, prices for primary housing do not reflect the reality. Artificial problems are created for documentation and public service. The lack of normal conditions for obtaining mortgage also prevents the revival of the segment.

Stagnation in PHM is expected in the near future. In February, no changes were observed in the regions either.

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