Exposition term at secondary housing market in Baku increased by 50% against pre-crisis period
Baku, Fineko/abc.az. The global financial crisis that also affected the activity of the real estate market in Azerbaijan has led to serious growth of the exposition period.
Nusret Ibrahimov, general director of consulting company MBA Group, says that exposition term at the primary housing market grew by 9.82% versus the 2008 index and at the secondary market by 10.93%.
"Exposition term at the primary housing market was 112 days in 2008, 143 days in 2009, 121 in 2010, and rose up to 123 days over the first 6 months of 2011. At the secondary market the figure was 128 days in 2008, 145 days in 2009, 143 days in 2010, and 142 days for the first 6 months of 2011," Ibrahimov said.
In 2007, exposition term at the primary market was 101 days and 97 days at the secondary market. Exposition term increased by 21.78% and 46.39% against this period respectively.
"Exposition term of property is now gradually reducing, mainly due to mortgage lending," Ibrahimov said.
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