In August, Prices in Second-Hand Housing Market Remained Stable

In August, in the capital and other major cities of the country prices in the second-hand housing market remained stable. According to estimates of the public association "Consumers of the property market", currently the average index values 980 U.S. dollars per 1 square meter. Secondary housing market also shows activation. The share of the four metropolitan areas - Yasamal, Nasimi, Narimanov and Khatai is 75% in the portfolio of offerings. Over the last month there was a decline in the demand for 4 and 5-room apartments, especially for four-room ones. But the demand for 1, 2 and 3-room apartments, especially for two-room apartments, grew. Apartments valued at 980 dollars per 1 sq. m. are the majority in the supply portfolio - 53.3%. The average selling price of each room is 44,130 dollars, and the average apartment price is $ 110,846.

Specialists believe that the immutability of prices in the secondary market is due to the seasonal suspension of mortgage loans. Until the end of the season the market stability will continue and relative activation is expected. An expert in the secondary housing market commented on the expected situation this way: "Renewal of mortgages will cause activation in the market and comparative rise in the price of housing."