Real property market of Azerbaijan has lost "major purchasers"

Baku, Fineko/  " Large purchasers" have disappeared from real property market of Azerbaijan.

President of Azerbaijan Realtors Association Vafadar Akhundov has reported that emission of large amount of money is needed to activate the market.

" If earlier the market activity was kept due to major purchasers buying properties for AZN 600-700.000 or even 1 million today only small deals are concluded at the market by necessity. The market operates only because somebody selld a flat and has to buy another one. No other serious sale-purchase operations of real property take place",- V. Akhundov said.

In his words the activity and prices of Baku’s real property market have remained almost unchanged since the start of the year and this tendency will go on till serious investments are made at the market.

" Large emission of money may happen as a result of mortgage market activation or the government’s other measures taken to provide growth of real property market",- V. Akhundov noted.



17.05.2011 16:49


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