Prices in secondary housing market decreased

Prices in secondary housing market decreased
Decrease in housing prices is due to the fact that purchasing power is weakening

Baku. 8 June. REPORT.AZ/ Average price of housing on the secondary market decreased by 3,49% and amounted to 1 630 dollars per square meter, in manat equivalent by 3,47% and made 1 709 manats per square meter.

As Report informs referring to MBA Ltd consulting company, decrease in housing prices is due to the fact that purchasing power is weakening.

In April the total number of proposals was 1 726 in April, this figure dropped to 1 564 in May. The total number of proposals on the secondary housing market in comparison with the same period last year decreased by 25%. In general, the portfolio of proposals, as in previous months, the vast majority are Yasamal, Nasimi, Narimanov and Binagadi district, which accounted for 55,3%.

Most offered in this market segment apartments are sold at a price below US $ 1 500 / sq. m., and they accounted for 41,2%-of the total portfolio of offerings. The average market price for the apartment is $ 1 217 / sq. m. The share of apartments for the price of $ 1 500-2 000 /sq. m. is 41%-of the total portfolio offers. The average market price for these apartments of $ 1 735 /sq. m. The share of expensive apartments at a price above US $ 2 000 /sq. m. 17,8%. The average market price for the apartment is 2 348 dollars/sq. m.

Reduced the number of one-, three-, and five-room apartments.

Except for two bedroom apartments, proposals for all apartments decreased.

According to research the sharpest decrease observed in "Khrushchev" buildings (-7,45%).

The apartments at below average cost per square meter. m. (1,630 dollars) constitute 52,15 of the total portfolio. The average area of apartments is 82,0 square meters. m., 2,46 average number of rooms, the average cost of each room 54 509 dollars, the average price of apartments 134 092 dollars.

On the secondary market, the highest price per square meter is offered for 3 room "Stalinka" apartment. Cost is near the Nizami street apartments with excellent repair a total area of 72 square meters. m was $ 4 600 / sq. m. The cheapest apartment was recorded in, Khirdalan settlement of Absheron district The cost of one -bedroom apartment in new building planning a total area of 78 square meters. meter was $ 685/sq. m.

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