In August, in the primary housing market in the capital, prices remained unchanged. A similar situation occurred in the major cities of the country. According to estimates of the public association "Consumers property market," currently, the average price index is 802.3 manats per 1 sq. meter. Compared to the previous quarter, the prices fell by 2.3%, and compared to last year - by 4.1%. During the month, the most attractive areas of the capital were Yasamal, Khatai, and Nasimi.
Experts explain the stability in prices with seasonality, as in summer people prefer to relax, which is traditionally accompanied by a downturn in the market. Along with this the effect was produced by weak mortgage lending, as well as the discrepancy between the prices and the reality. All this has a negative effect on the activation of the primary housing market. We also have monopolization and artificial estimation.
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review