In March, Prices for Secondary Housing Market Increased 3.5%

In March, on the secondary housing market (SHM) prices increased on average 3.5%. According to estimates, currently on SHM average price index is above about $ 1080 per 1 sq. meter. In general, for the first quarter of 2013, prices for SHM increased by 10%. In the last month, compared with the previous months, activity in the market increased, which was reflected in the dynamics of the transactions. In March, the most attractive areas remained, as before, Yasamal, Nasimi, Narimanov and Khatai. In all four districts portfolio made up of 75%. This was facilitated by location of areas - the proximity to the center of, and compliance with the terms of the mortgage price. Within a month, the least popular were four-room apartments, but the demand for 1, 2 and 3 room apartments grew. The largest share in the total portfolio was flats with value below $ 1080 per 1 sq. meter, i.e. 53.3%.

Experts attribute this to the March activity in the mortgage market, the increase in the loan portfolio of construction companies, the acquisition of cash by the population in connection with the repair and building work in some places of the capital. However, these causes can not continuously act on the market. Experts believe that the price for the proposed housing is much higher than their normal market value.

In the coming days, the market activity will continue, and prices are correspondingly expensive. In March, the other major cities observed rise in prices: in Sumgait by 2.6%, in Ganja by 3.3% and in Mingechaur by 5.2%.