Azerbaijan, Baku, Nov. 10 / Trend U.Ismayilova /
Prices on the Baku secondary real estate market decreased by 0.2 percent to $1,288 per a square meter in September, compared to $1, 282 in August, the Property Market Participants public organization said.
In this period, the average price for an apartment was $115,561 (+4 percent) and the average price of one room was $47,361 (-2 percent). The average figure for a room on the secondary residential market amounted to 2.44 (+ 6.1 percent) in September.
Apartments offered on the market under the average price took 55 percent of the market portfolio compared to 56 percent in August. The most significant increase in price was observed in the Surakhani district of Baku - by 9.2 percent in September. The prices dropped in the Sabail and Sabunchu districts of Baku- by 1 percent. The most significant decrease in price was observed in Garadagh district of Baku - by 11.8 percent.
Newly-built buildings accounted for significant part of the secondary housing market or 58.7 percent. Leningrad design projects accounted for 11.9 percent, Stalin design - 7.4 percent, experimental - 7.9 percent, Khrushchev design - 4.1 percent, Kiev project - 2.6 percent, German - 1 percent, French - 2 percent, Minsk - 1.7 percent, architectural-2.2 percent and Italian - 0.5 percent.
Large part of the portfolio of the second market - 23.4 percent was made up by the buildings in Baku's districts of Yasamal(28.2 percent), Narimanov (14.8 percent), Nasimi (20 percent), and Khatai (12.1 percent), which comprises 78.1 percent of the secondary housing market.
In August, the dynamics of bargaining on the secondary residential market in Baku increased by 0.7 percent. Offers increased by 8.3 percent on the secondary residential market in Baku. The term of exposure in Baku's secondary housing market decreased by six days and was 102 days.
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