A new course of the Society of Appraisers of Azerbaijan (SAA) starts. According to the head of the organization Irada Shukurova, training will be versatile and aimed at improving the assessment of both residential and non-residential properties. In addition, it is hoped that lots of experts will obtain international certificates - today there are 40, mainly in Baku, which is not enough at the national level.
According to real estate experts, today the market is experiencing stagnation - in June, nearly all operations, even in the capital, were in fact suspended, and the hope is to simplify mortgage lending. The natural growth of operations will come in August, due to the influx of newly enrolled students. This revival will be in the rental segment, mainly of second homes, as after the February devaluation of AZN the purchase of real estate temporarily weakened. --17D-
Economics
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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.
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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.
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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.
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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.
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