Rise in prices on Baku housing market did not exceed 1% in May
Baku, Fineko/abc.az. The real estate market of Baku observed an insignificant rise in prices - by 1.34% in May.
Nusret Ibrahimov, general director of consulting company MBA Group, informs that prices rose by 5.62% versus early 2012 and by 12.9% against the 2011 same term index.
"Prices in the primary housing market of Baku decreased in May by 0.5% from $852 to $848 per sq m and by 0.8% since early 2012, but increased by 13.8% versus the last year’s same term,” Ibrahimov said.
He added that the secondary market showed more harmonious price dynamics. In May prices grew by 0.6% - $1,446 per sq m against $1,437 in April, by 4.8% since early 2012, and by 11.2% during the year.
The capital’s land market felt the drop in prices by 6.9% - from $21,838 to $ 20,308 per are, although from the beginning of the year prices rose by 0.6% and by 4% against May 2011.
Market prices of commercial buildings also rose last month by 1.4% - from $3,490 up to $3,539 per sq m, since early 2012 by 15.18%, and by 16.1% for year. Rental of commercial buildings went up in May from $22.7 up to $23.61 per sq m, by 14.6% since early 2012 and by 21.7% for the year.
Prices for rent in May rose by 3.3% - from $10.71 up to $11.6 per sq m, decreased by 12.5% since early 2012 and went up by 10.6% against the 2011 same term.
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