Primary housing market of Baku increased

Baku. 11 June. REPORT.AZ/ In May this year in the primary real estate market of Baku average price for an apartment at lighthouse increased by 3.75% - from 1066 dollars / sq.m to 1106 dollars/sq.m., which is in national currency - from 1 117 manats / sq.m. up to 1159 manats / sq.m.

Report informs referring to the monthly report of the monitoring group of the consulting company MBA Ltd, 52,6% in the primary market apartments are cheaper accommodation for less than 1,000 dollars / sq.m. The share of apartments at an average price of1000-1600 dollars / sq is 37.5%.
The recorded average market price - 766 and 1200 dollars / sq.m respectively.
The remaining 9.9% of the total portfolio of offerings comprise luxury apartments at a price above 1,600 dollars/ sq.m. In this segment, the average price is 2145 dollars / sq.m.
During the reporting period, the total portfolio of offerings comprise the vast majority of Nasimi, Khatai and Yasamal districts, which account for 63.9%.
At primary housing market, the highest price per square meter is offered for five-room apartment "under the lighthouse." Apartments with a total area of 265 sq.m. cost 3200 dollars / sq.m located in Sabail district near the metro station "Sahil". The cheapest apartment, as in April, was recorded in the village Masazir. The cost of a one-room apartment in a total area of 53 sq.m - 400 dollars / sq.m.
Within a month the largest price increase recorded in Narimanov, Absheron, Nasimi and Khatai district (3.3%, 2.3%, 2.2% and 3.3%), the largest decline in prices was observed in Binagadi, Nizami and Sabail districts (-8.2%, -3.9% and -4.1%).
The apartments at below average cost per square meter (1106 dollars), make 58.3% of the total portfolio of offerings.