Price difference of old and new apartments in Baku fell by 5-fold

Baku. 2 February. REPORT.AZ/ Price difference between old and new apartments during 2013-2016 insecondary housing market in Baku fell by nearly 5 times up to 3% in Baku.

Report informs, it was revealed during the investigations of the Monitoring Group "Real Estate Market Participants" PU. The new buildings are those which have been constructed in the last 10 years: "The secondary housing market is divided into old and newly built apartments. Old building apartments are "Stalinka", "Khrushchev", "Brejnevka" projects and others, new buildings constructed in last 10 years."

According to the group, prices of traditional old buildings were more expensive than new building and price difference was 15-20%.