Prices at Baku real estate market decreased in May


June 20, Fineko/ Prices on the Baku real estate market declined by 1.46% this May (against April) and by 0.83% compared with May 2021, ABC.AZ reports, citing Nusrat Ibrahimov, the chairman of the Society of Appraisers of Azerbaijan.

According to Ibrahimov, the cost of secondary housing in the capital increased by 1.83% and for the year by 3.81%. In the primary housing market, there is a decline in prices by 0.07% compared to the previous month, with an annual increase of 9.38%. In the rental housing market, prices fell by 1.97% over the month, and by 4.89% over the corresponding period of 2021.

In May, the sale prices of individual residential houses and dachas in the capital grew by 4.75% (versus April), and over the past year decreased by 11.09%. There was a 0.65% increase in prices on the rental market of individual residential houses and dachas, and prices have not changed over the year.