Activity in secondary housing market increased by 3%

Fall in prices in the secondary housing market continues

Baku. 11 January. REPORT.AZ/ Fall in prices observed in the secondary housing market continued also in the last month of 2015.

Report informs referring to the report of the monitoring group of MBA Ltd consulting company, last month the average cost of housing fell by 2.2% - from 1545 to 1511 dollars per square meter in the manat equivalent - from 1622 to 1577 AZN/sq.m.

In general, in December portfolio of offers has reduced, as many sellers have taken a wait. As in previous months, the overall portfolio of proposals were leading Nasimi, Khatai, Narimanov and Yasamal districts of Baku city.

In this market segment, most offered apartments are sold at a price lower than 1500 dollars/sq. m, they accounted for 55.7% of the total portfolio of offerings. The average market price for these flats was 1182 dollars/sq.m. The share of apartments for the price of $ 1500-2 000/sq. m was 32% of the total portfolio of offerings. The average market price for these apartments was equal to 1722 dollars/sq. m. The share of expensive apartments at a price above US $2000/sq. m was 12.3%. These apartments were sold at an average market price in 2449 dollars/sq. m.

On the secondary market, the highest price per square meter is offered for five-room apartment with "architectural" project. Cost is located near the metro station "Sahil" apartment with a good repair total area of 220 square meters was $4500/sq. m. The cheapest apartment was recorded in the settlement of Montin, Narimanov district. Cost poorly renovated one-bedroom apartment, "Italian" design a total area of 80 square meters was $525/sq. m.

Notably, in December there was an increase in market activity by 3% in comparison with the previous month due to the relative increase of the number of buyers.

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