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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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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