In July, the prices in the secondary housing market of Baku in comparison with the previous month on average increased by 5.5%. against the background of migration of 3 thousand. families from their private homes in the former Soviet Street. The highest activity and the rise in price was observed in the outskirts of the city - near the metro stations Hazi Aslanov, Ahmadli, Darnagul and Azadlig Prospekti (Khatai, Nasimi and Binagadi districts).
According to estimates of the Public Association "Consumers property market", the current average property price index is 1.7 thousand USD per 1 square meter. In July realtors’ activity in comparison with the previous month decreased along with the number of transactions. But this does not mean reduction in the number of people wanting to buy an apartment in a building of the sample 70-80 years.
According to the activity coefficient, in July the most attractive areas were referred to parts of the capital. Over the last month decreased demand for 4 and 5 room apartments, especially for four-room ones. However, increased demand for 1, 2 and 3 room apartments.
Professionals working in the secondary housing market align higher prices with the demolition of housing and the growth of mortgage loans in recent months. One of the experts regards the reduction of real estate activity "with respect to reduced activity due to the holidays, but from mid-August it is to rise to the summer maximum." Until the end of the season prices will remain stable. However, relative activity in the market is expected in the fall. In the coming days, price stability will continue.
Economics
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