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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