In April, Secondary Housing Market Was Relatively Active

In April, on the secondary housing market (SHM) in Baku and other cities of Azerbaijan there was observed relative activity, but prices remained unchanged. According to the report of the public association "Property Market Participants", now the average price index of housing is about $ 1,200 per 1 sq. meter. Housing, the price of which is lower than the above, made up more than 50 percent.

According to estimates, within a month the average price of apartments for sale, amounted to 112.9 million dollars. As in previous months, the demand was higher in the Yasamal, Khatai, Nasimi and Narimanov districts of the capital - they exceeded 75%. In April, the greatest demand was for 1 and 2 room apartments.

Comparative activity in SHM in April is explain by experts with the issuance of mortgage loans, the demolition of houses in the city center and the issue of compensation. Negative impact on activity in the secondary housing market was produced by the following factors: the existing above-normal prices, the impact of brokers, the lack of social programs from the state for the purchase of property, and severe conditions of the mortgage loan. In the next few days stability will be observed on SHM, although there will be a tendency to rise in price.