In November, the secondary housing market prices increased by 5%

In November, prices on the secondary housing market increased by an average of 5%. According to estimates, at present, the average price index is 1,020 U.S. dollars per 1 sq. meter. Over the last month, compared with the previous months, activity in the market increased and as a consequence, the number of transactions also increased. Increase in prices was observed in the Yasamal district of the capital, and the Ahmadli, Hazi Aslanov, Inshaatchilar, and 8 km areas. In November, there was decrease in demand for 4- and 5-room apartments, in particular, for four-room ones. Demand increased for 1, 2 and 3 room apartments. The cost of 1 square meter on the market was 1,020 U.S. dollars, and their share in the portfolio of proposals equaled 53.3%. .

Experts link the rise in prices on the secondary housing market with the launch of mortgage loans as well as compensation, issued to the people evicted from their homes at the site of the so-called Winter Boulevard. One of the experts described the situation on the market: "This month, people preferred not new buildings or plots of land for building a house, but housing on the secondary housing market. This has had a significant impact on growth in the prices in the winter." At the same time, experts believe that the problems in the secondary housing market, including the prices, still remain. The prices are also affected by brokering services, and the lack of government programs for the purchase of housing.

In the coming days, the market will face a comparative activity. It is predicted that prices will have a tendency to rise.

Prices in regions of Baku and other cities of Azerbaijan (in thousands of USD)