In the third quarter of this year, prices in the housing market in Azerbaijan declined compared with the previous quarter by 1.4%. Overall, in July-September, the housing market recorded price growth of 2.1% compared with the same period of 2014, State Statistics Committee said.
Experts say that the increase is due to the February devaluation of the manat. Traditionally, the housing market in Azerbaijan buys and sells informally in US dollars.
In annual terms, in the primary housing market, prices rose by 8.1% and in the secondary – by 2%.
According to the State Committee for Property Affairs of Azerbaijan, for the first nine months of this year the country registered 145,000 deals on purchase and sale, of which 28,000 were in the primary market. --- 08D
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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