In July, the prices in the secondary housing market in comparison with the previous month on average decreased by 1.4%. Falling prices in most observed in the city center - 2.3%, in Nasimi district - 1.7%, in Yasamal - 1.3%. According to the calculations of the Public Association "Consumers Property Market", at the present time the average housing price index was 986 U.S. dollars for 1 sq. m. meter. In July, the activity in the market compared to previous months decreased as well as the number of trades. According to the ratio of activity in July, the most attractive areas were in the Khatai and Yasamal districts of the capital. Over the past month demand for 4 and 5 room apartments decreased, especially in four-room ones. However, increased demand for 1, 2 and 3 room apartments.
Professionals working in the secondary housing market linked the decline in prices to seasonality and weak mortgages in recent months. One of the experts regards the situation as follows: "The activity decreased due to the holidays, loss of activity was the cause of lower prices." By the end of season the prices will remain stable. However, the relative activity is expected to fall in the market. In the coming days, price stability is expected.
Economics
-
Azerbaijan's state oil company SOCAR announced plans on November 15 to issue green bonds in the Azerbaijani financial market to support environmentally sustainable projects.
-
The State Oil Company of Azerbaijan Republic (SOCAR) on Friday signed a memorandum of understanding (MoU) with Masdar of the United Arab Emirates and ACWA Power of Saudi Arabia to develop a network of offshore wind farms with a total capacity of 3.5 gigawatts in the Azerbaijani sector of the Caspian Sea.
-
Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
-
The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
Leave a review