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Real Estate Prices in Secondary Market of  Baku Divulged

Business Materials 30 June 2008 17:29 (UTC +04:00)

Azerbaijan, Baku, 30 June / corr. Trend U. Ismayilova/ The average price of the apartments in the secondary market of Baku totaled to $107,803 in May, the Participants of Estate Market public organization said on 30 June. One cu meters of apartment cost $167,8 on average in May. The pricesrose by 1.1% as against April.

In May, the supply increased by 6.9% in the secondary housing market in Baku. Some 6,500 apartments were supplied to the market during this period.

The average price of one room totaled to $46,871 and the average room indicator - 2,33 (drop by 2.5%) in May.

The apartments in Yasamal district of Baku comprised the larger proportion of the portfolio of the secondary market in May which totaled to 21.9%.

The share of the three-bedroom flats in the portfolio of the market made up 37% and two-bedroom flats - 39.3%. The share of the flats sold in May below the average price made up 57.77%.

The correspondent can be contacted at:  [email protected]

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