In August, Prices Remained Stable at PHM

Baku/11.09.13/Turan : In August , the capital of Azerbaijan, despite the overall activity in the primary market , prices largely remained stable. A similar situation occurred in other major cities .

According to the calculations of the public association "Consumers property market ," mid-price index for primary market amounted to 886 manats per 1 sq. meter. In comparison with the previous quarter , prices increased by 2.6%. In comparison with the previous year - by 11.3 %. When compared with September 2008 ( during the crisis ), prices have dropped by 25.8 %. Then 1 sq. meter of housing cost 1,194 manat.

During the month, the most attractive were Yasamal , Khatai and Narimanov districts of the capital . 2/3 of the total portfolio construction was implemented in these three areas . There were no major changes in the volume of construction in other areas. Over the last month 398 new buildings were suggested, and the number of construction companies was 126. As in previous months , in August, demand was for 3-room apartments.

The average area of ​​a one-room apartment is 60.7 square meters , two-room - 92.1 square meters, three-room - 131.8 square meters, four-room - 182.9 square meters, five-room - 283.3 square meters.

According to experts, PHM , as well as in the secondary , there was an increase of activity. This change affected the infrastructure and reconstruction work . There was a rise in the transactions. However , according to experts, the price of the flats offered for sale is much too high, and still does not meet their real value. In the coming days, the situation in the PHM will be a tendency to rise in price.