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Secondary housing has depreciated in the Azerbaijan capital


Secondary housing has depreciated in the Azerbaijan capital

December 10, 2009

In October, the average apartment prices on the secondary property market of Baku have decreased by 2.9%, compared to the preceding month.

The median cost of an apartment in Baku, as of October, has amounted to $1.243 per a sq. m. The rise in prices has only been registered in Garadagh district (+0.4%), ABC.az reports with reference to the data published by the “Property Market Participants” organization.

The number of apartments offered on the secondary market has decreased by 2%, down to 7 thousand properties. The yield of the market has climbed up by 2.3%.

We would like to remind you that over October prices in the segment of new buildings have remained virtually unchanged, rising by 0.1%, compared to the preceding month.

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