In October, prices in the primary housing market remained unchanged. Compared with the beginning of the year, the rise in prices was at 1.2%. In comparison with the same period last year, the prices rose by 1%.
Currently, the average price index, as in the past month, is 820.3 manats per 1 sq. meter. In October, the market activity was below average. During the month, the most attractive areas were, as before, Yasamal, Khatai, Nasimi.
In these areas, the average price index ranged between 500 and 700 manats per 1 sq. meter. Over the past month, relatively increased demand for homes with gas supply and heating systems.
Experts assert that the activity in the market is lower than in the secondary one. They explain the situation as follows: "The primary housing owners set their own term of exposure, according to their financial means. In this market, it is easier to maintain artificial evaluation, as there are fewer segments that have an impact on the primary market. Currently apartments put for sale do not reflect the real value." There are problems such as artificial prices, monopoly, etc.
In the coming days, the stability of the primary housing market will continue.
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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