In February, the secondary market showed relative stability

In February, the secondary housing market (SHM) in Baku and other cities showed a revival, but the prices did not change.

According to experts, the average price index in this segment is $ 1045 for 1 square meter. In the general portfolio offering of apartments more expensive than this level was 53.3%. The activity of brokers and realtors increased 1%. Most active (75%), judging by the demand and according to the tradition, were the Yasamal, Narimanov and Khatai districts of the capital. The reason for the demand in these areas of Baku is that the majority of new buildings that have fallen into the category of secondary housing are located in these districts.

The portfolio for of 3, 4 and 5-room apartments has not changed, at the portfolio for one and two room apartments showed a significant recovery due to the growth of mortgage lending and traditional "winter" investments in real estate by Russian entrepreneurs of Azeri origin. In addition, a certain role was played by the search for housing by those, who was paid compensation for scheduled and unscheduled demolitions.

One expert said that "people like secondary homes because they do not trust the current building projects and consider inappropriate land purchase due to rise in prices of building materials and construction services." Experts believe that brokers cooperate and have enough capacity to artificially drive prices of secondary housing due to the absence of government’s social programs, and the unacceptable conditions of mortgage loans at the banks.

In the near future stability in this market segment is projected. In February, the regions will not face changes either.


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