In October in Baku and other cities of Azerbaijan prices of existing homes fell by an average 2.2%. In the last month, compared with the previous months, activity in the market declined, and the decline was observed in the dynamics of transactions.
During the month decline in prices was observed for the "Khrushchev ", "Stalin" and French apartments, as well as 3, 4 and 5-room apartments. According to estimates, the cost of 1 sq. meter of apartments for sale is 1,285 dollars per 1 square meter. In comparison with the same period last year, the price increase was 31.1 %.
The share of apartments sold in the market for a price below 1,285 dollars per 1 square meter is 53.2%. Offers in the Nasimi , Yasamal, Narimanov and Khatai districts accounted for over 75%.
Experts believe that the decrease in the supply of second-hand housing is associated with the reduction of proposals and activity in the market, stop in the mortgage lending and artificial increase in the prices. In the coming days, the stability of the secondary housing market will continue.
Economics
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
-
Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
-
Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
-
Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
Leave a review