SSC Registered Decline in Housing Prices

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

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