![In September, Prices for Second-hand Housing Decreased by 0.4%](https://turan.az/resized/750/500/resize/media/2012/main/101200014479.jpg)
In September, Prices for Second-hand Housing Decreased by 0.4%
In September, the price of second-hand housing (SHH) in Baku, on average decreased by 4%. Falling prices were mostly observed for the "Stalin" and "Khrushchev" housing and housing on the "Minsk Project."
According to estimates of the public association "Consumers in property market", the average price index for 1 square. meter on the secondary housing market is below 980 dollars.
Despite the decline in prices in the last month in this market there was relative activity. The most attractive areas of the capital in September still were Yasamal, Narmimanov, Nasimi and Khatai.
The portfolio of offers in these four districts accounted for over 75%. In the SHH market, 53.3% of the total portfolio of proposals includes apartments priced below U.S. $ 980 per 1 sq. meter. Average cost for each room in the market was 44,130 dollars, and for an apartment it was 110,846 dollars.
According to experts, the relative activity in the market after the summer season is absolutely legal. As for the comparative price reductions for "Stalin", "Khrushchev" and "Minsk Project", it is explained by the decrease in the demand for them. Experts also predict that due to the demolition of houses in Kubinka, Soviet, Papanin and behind the Heydar Aliyev Palace, the prices of second-hand housing can jump. Certain market price increase may be caused by allocation of mortgage loans in November.
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review