Reduced Number of Transactions on Tenancy
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--
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- Markets Review
- 26 January 2015 13:02
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- Economics
- 26 January 2015 13:26
Economics
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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