In the second quarter of 2016, housing prices in Azerbaijan declined compared with the first three months by 0.9%, the State Statistics Committee.
According to the observations of SSC in the primary market for this period of time there was some increase in prices (+ 0.4%), and the secondary market prices decreased by an average of 0.9%.
As the State Real Estate Register Service said, the activity in the secondary market, as a rule, is twice the indicator on the primary market of apartments.
In general, despite the decrease in activity in the apartment market, the primary market in the second quarter showed a 3.2% growth compared to the same period of 2015. Nevertheless, the total price for two segments of housing market showed negative dynamics (-4.9%). This trend is observed on the background of the general increase in prices for building materials, mostly imported. ---08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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