As of August 1, the average prices in the primary real estate market of the capital of Azerbaijan totaled AZN 802.3.
According to a press release from the Public Association "The market property" in January-July, new apartments are cheaper by 1% compared to the end of the first half.
Compared with the beginning of the fall in prices is even more noticeable - 5.4%, while for the year the difference is somewhat milder - 4.1%.
Total to August 1 this year the construction of 420 multi-storey residential buildings carried out by 150 contractors was recorded. The largest building boom is experienced in the Yasamal, Khatai and Nasimi district of Baku. - 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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