In November, prices for primary market increased by 2.1%

Baku/18.12.13/Turan : In November, the average price index of the primary housing market in Baku increased in comparison with the previous month by 2.1%. A similar situation has methods and in other cities of Azerbaijan. Over the last month the average price index was 922 manats per 1 square meter of housing in these markets . In comparison with the corresponding period of the previous quarter prices rose by 4% , and in comparison with the previous year by 13.1 %. If we compare the prices from the period of the crisis in September 2008 , they fell by 22.8 %, but in comparison with the beginning of 2013 increased by 9.8%.

Monitoring carried out in the primary housing market, allows to note that along with rising market activity. 2-3 room apartments with all utilities ( heating, natural gas ) are 800-1,000 manat for 1 square meter. In November, high demand for apartments was documented . Most attractive areas in the capital during November remained Yasamal , Khatai , and Nasimi . Their share in total construction portfolio is 2/3. In November, the number of proposed houses was 395 , and the number of construction companies fell from 123 to 122.

Experts believe that the rise in the primary housing market is explained with the general trend of rising prices in these markets . Along with this , the increase in the purchasing power of the population in recent months has caused a rise in prices on the market. Negatively impacting the activation of the primary housing market are the following factors: lack of documentation to make sales , the lack of gas , the presence of the majority owner with a large area , as well as monopoly . In addition, the primary housing does not meet the mortgage . The majority of housing in the primary market is bought by people who change their apartments from the secondary market , as well as those who are looking for accommodation with a small quadrature. One of the experts , which plays the role of mediator in this market, believes that to find an apartment with a small area in new buildings has become a problem. However, to find an apartment with a large quadrature problem is not observed even in homes after 7-8 years of operation.

In the coming days, the primary housing market stability will continue.