Hike in housing prices in Baku seasonal
By Trend
Prices in both the secondary and primary housing market both in the last month and during the year have increased in Baku, Director General of the consulting company MBA Group, a real estate expert Nusrat Ibrahimov told Trend.
He said that the growth in prices in the secondary housing market in August amounted to 0.73 percent, and during the year 2.23 percent. This is while in the primary market, the growth was 2.36 and 10.45 percent, respectively, he noted.
The price increase is seasonal, he added.
“Typically, rise in prices at the end of summer and at the beginning of autumn are inevitable,” he said. “On the other hand, the supply portfolio has decreased, while there is decline in the construction of new apartments. The decrease in the supply portfolio affects prices.”
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