Search for jobs in the capital and new school year boost rents

On the eve of the new academic year (starts September 15) increased the prices of rental apartments in multi-storey buildings.

Turan was told by brokers in the area near the metro station Neftchiler that services of lodgers for two-room houses in July were 250 - 300 manats, depending on the distance from the repair and transportation arteries. In August, it became more expensive up to 300-400 manat. Two-room flats are the most popular segment for tenants.

Prices for one-room apartments jumped to 200-250 manat, for three and four-room ones - up to 350-500 manat. Greater capacity is not popular in the market. We are talking about homes in the periphery and in the sleeping areas of the capital. In the center of the capital rent is expensive, and the owners and brokers prefer to rent housing at 30 to 150 manat per day.

The average market value of the rent of a studio apartment in Baku at the end of August amounted to 600 manat, but most tenants prefer to settle in the second and third zone of residence; that is why the prices shown at the beginning of the text are the most popular ones.

According to Turan’s experts, announcement of the results of entrance exams affected the activity of realtors and brokers - real demand for rented and even purchased houses increased, respectively, by 20 and 7.5 percent. A new wave of influx of citizens of the capital in search of work and the increasing number of migrant workers also took place in August, which affected the growth of prices. The share of expensive apartments (price for 1 000 and more manat per month) in the portfolio of proposals was 18.5%, and that of cheap apartments (below 350 manat per month) was 40.4%. -17D-


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