15:09 - 28.09.2017

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The Baku real estate market is still experiencing the process of decline that gradually transfers to the level of stability.

Nusret Ibrahimov, general director of consulting company MBA Group, says that prices and activity in the real estate market of the capital change mainly due to structural changes.

"So, during the year the market fell by 4-6%. In particular, there are no significant reductions, and this means that the market has stabilized. We can expect revival of the market until the second half of next year," he said.

According to Ibrahimov, such state projects as reconstruction of "Sovetskaya" district of Baku, the first micro-district, five districts of the country’s capital, the start of work of the State Housing Agency that builds social housing certainly affect activity of the market.