BAKU, Azerbaijan, December 20. The average cost per square meter of apartments in Baku's primary housing market in November 2022 increased by 0.68 percent compared to the previous month, and 21.85 percent year over the year, CEO of Azerbaijan’s MBA (Marketing Business Analysis) Group Consulting company Nusrat Ibrahimov told Trend.
"The cost per square meter in the primary housing market in Baku amounted to 1,634 manat or $960 (1,623 manat or $950 - in October 2022, 1,341 manat or $790 - in the same period last year) in November 2022," he said.
The total volume of offers on the primary housing market of Baku in November 2022 increased by 1.41 percent compared to the previous month and by 68.54 percent year-on-year, reaching 932 manat ($548).
On an annual basis, the average price of apartments in the primary market increased by 22.49 percent and amounted to 215,984 manat ($127,050).
According to his forecasts, in December 2022, real estate prices will continue to grow.