Azerbaijan, Baku, August 1 / Trend A. Akhundov /
The average cost of secondary housing increased by 0.9 percent in Baku in June compared to the previous month and amounted to $1,286 per square meter, "Property Market Participants" Public Association's report following the monitoring results of Baku's real estate market said today.
The average cost of housing on the secondary market increased by 31.2 percent compared to the same period of 2012.
According to the monitoring results, the volume of supply on the secondary housing market declined by 3.1 percent in June. The number of apartments offered for sale, decreased to 5,000.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in a total supply portfolio was 78.7 percent. The formation of a portfolio due to these four districts for a long time is associated with the appearance of new buildings on the market. The research shows that a portfolio of supply on the primary market is mainly formed by four districts.
The secondary housing share proposed for the market at a price lower than the average, amounted to 53.2 percent. The average room rate on the secondary market in June was 2.80, the average price of each room - $49,841, apartment - $11,7521 in June.
The dynamics of concluding the secondary housing purchase-sale deals increased by 1.7 percent per month.