In April 2020, the secondary housing market grew by 2.5%, the primary housing market – 2.76% and land market – by 9.12% in Baku, Director General of MBA Consulting and Evaluation Company, an expert on real estate Nusrat Ibrahimov told Report.
According to him, the rent of commercial facilities dropped 2.53%: “The general real estate market went up 2.74%. In April, the activity in Baku’s real estate market increased. Compared to a year earlier, the market grew by 5.31, secondary market – by 1.13%, primary market – by 8.58%, commercial facilities market – by 9.25%, land market – by 6.18%, rental housing market – by 6.51%, market of rent of commercial facilities market – by 12.56%.
He added that the average price in April was AZN 1,350: “The growth in the rental housing market during a month was 0.26%.”
The experts had noted that the activity in the real property market declined in March due to the COVID-19 pandemic.