Baku, Azerbaijan, April 15
By Emin Aliyev - Trend:
The expected increase in real estate prices will hit 8-10 percent in Baku during the year, director general of MBA Group consulting company Nusret Ibrahimov told Trend on April 15.
"The prices will continue increasing in the long term until 2018, according to our forecasts," he said. "The practice shows that market prices will increase by an average of 8-12 years. Afterwards, a period of decline will begin (within three to five years). The growth dynamics has been observed for the last three years. This gives reason to believe that this will continue. Another reason is the continued growth of the population's income, invested in real estate. These and other factors determine an increase in housing prices and give reason to believe that this trend will continue."
Russian investors restore their interest in the real estate market (most of whom are compatriots living in this country ).
"The flow of proposals from Russian investors was significant three or four years ago, but then fell sharply," he added. "This year, Russian investors' restored interest in Baku's real estate has not been observed in such volumes as in the past."
translated by NH
edited by CN
