Russia-Ukraine war not bypass housing market of Baku

27.09.2022,12:47


September 27, Fineko/abc.az. The influx of Russian citizens to Azerbaijan will lead to an increase in prices on the real estate market of our country, ABC.AZ reports, citing expert economist Vugar Orujev.

He noted that the war between Russia and Ukraine affected the real estate market:

"Even during the beginning of the Russian-Ukrainian war, many people came from Ukraine to Azerbaijan. Their arrival had serious impact on the real estate market of Azerbaijan. As a result, compared with 2021, rental and purchase prices have increased in the real estate market this year. The consequences of such events do not appear soon. We can see that in 2022 there was a 15-20% price increase in the real estate market compared to 2021.”