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    Prices on primary housing market decreased in Baku

    21% of proposals accounted for affordable housing at a price less than 700 USD/sq.m

    Baku. 13 January. REPORT.AZ/ In December 2015 in the primary real estate market of Baku city average price for lighthouse apartments decreased by 1.03% - from 968 USD/ sq.m to 958 dollars/ sq. m, in the national currency - from 1016 manats/ sq.m to 1006 AZN/ sq.m.

    Report informs referring to the monthly report of the monitoring group of MBA Ltd consulting company, 20,8% of proposals in the primary market accounted for affordable housing at a price less than 700 USD/ sq.m. 

    Most of the proposals in the portfolio accounted for apartments at an average price of 700-1000 USD/ sq.m (50.3%). Apartments at the price of 1 000-1 300 USD/ sq.m constitute 12.7% of the total portfolio of offerings.

    The remaining 16.2% are luxury apartments at a price above 1300 USD/sq.m. In these segments, the average market price is 609 USD/sq.m, 832 USD/sq.m, 1091 USD/sq.m and 1687 USD/sq m respectively.

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