Azerbaijan, Baku, Dec. 24 / Trend U.Ismayilova /
An average price in the secondary housing market of Baku in November fell by two percent - to $1,077 per square meter compared to $1,079 in October, the NGO Participants of the Property Market reported.
The rise in prices was not observed in any of the districts of Baku, the report said.
The proportion of secondary residences proposed for the market under the average price amounted to 57.4 percent. The average room rate offered to the market in November, was 2.56, average price of each room was $43,196 and average apartment price - $112,765.
The price index also declined by two points to 196.7. Proposals to the market increased by a half percent and amounted to 7,000 apartments. The dynamics of bargaining declined by 0.2 percent in the Baku secondary real estate market.
"The price decline, which is not appropriate to the season, is mainly linked with the completion of the Banks' adoption of limit on mortgage lending through the Azerbaijan Mortgage Fund operating under the Central Bank of Azerbaijan, which is typical for the end of the year," the report reads.
The share of new buildings in the housing market hit 58.9 percent.
Khatai, Yasamal, Binagadi and Narimanov were the most active areas for the activity coefficient, since these districts were the most attractive in terms of the mortgage
The proportion of Yasamal, Nizami, Narimanov and Khatai districts in the total portfolio of the market amounted to 79.6 percent.
