The average monthly housing rent in the capital in December was $ 845 (662 manat or minus 12.9% compared to November).
According to Nusret Ibrahimov, head of the consulting company MBA Group, for the year the average cost of rent apartments in Baku on average increased by 10.2%. The cost of rent per square meter in December was $ 11.6, an increase compared to November last year amounted to 1.13%, and from December 2013 - 2%.
Last December, the proportion of expensive housing (rental price above $ 1 thousand per month) in the portfolio of proposals was 28.1%, the average apartment (from $ 500 to $ 1,000) - 52.92%, cheap apartments (less than $ 500 per month) - 18.98%.
The number of transactions on tenancy decreased in December to 1.38% - up to 143. According to experts, the situation is familiar - the market is saturated, and the fall in demand will occur until July, when there will come the regular season of influx of students and school leavers, who want to enroll in universities. --17D--
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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