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How will coronavirus affect Azerbaijan's real estate prices?

How will coronavirus affect Azerbaijan's real estate prices?

The real estate market in Azerbaijan is going through a tough period in connection with the coronavirus pandemic. CEO of MBA Consulting Company, Real Estate Market Expert Nusrat Ibragimov says. According to him, currently, there is zero activity in the real estate market, including the primary and secondary housing markets, the rental housing market, private houses, and cottages: "Sales paused in all directions."

He stressed that it is currently difficult to make any calculations, but in the face of falling household incomes, a decline is inevitable in the real estate market.

Last year, real estate experts said that the overall market dynamics in 2020 would be different from the previous year. Rising prices in all areas of real estate projected up to 10%. But in the primary housing market in some areas, prices were expected to grow by 15% or more.

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