Azerbaijan news

Real estate in Azerbaijan may become more expensive

Russia citizens To Azerbaijan will lead to an increase in prices in the real estate market of our country.

About it “Azerbaijan Chairman of the “Association of Assessors” Public Union, economist expert Vüsnow He said fasting.

V. Oruj pointed out that the same situation happened at the beginning of this year:

“A while ago Russia-From Ukraine when the Ukrainian war started To Azerbaijan there were many visitors. These are Azerbaijan native businessmen, at the same time of Ukraine it was their own citizens who tried to stay away from the conflict as much as possible. Their arrival had a very serious impact on the real estate market in Azerbaijan. As a result, this year compared to last year, rent and purchase in the real estate market prices rose and we witnessed an unprecedented interest rate jump. We are currently facing a new process of the same nature. A partial mobilization has been announced in Russia and to this protest as Russia a large number of its citizens leave the borders of Russia and go to Europe and the CIS countries. As a result, prices are expected to rise in the real estate market in Azerbaijan.

V. Oruj said that those who come to the country mainly turn to the rental market:

V. Oruj said that those who come to the country mainly turn to the rental market:

“Because most of them are thinking of getting a temporary place of residence until the processes calm down. The fact that they turn to the rental market causes prices to rise in this market. As a result, investors have the idea that buying and selling property and later renting that property can lead to serious profits. Therefore, our own local entrepreneurs cause a certain stir in the real estate market. Demand is increasing and as a result prices rises”.

V. Oruj pointed out that in Russia Azerbaijan some of the native businessmen are already returning, and this may be one of the reasons for the real estate price increase:

“They will also have plans to invest in the local market. Today, the most suitable market for investment is the real estate market, and they will turn to this market to establish their business in the local market. This will lead to an increase in demand and prices. Every year at the end of September, there was a certain stability in the rental market. because education The agitation caused by the opening of the furnaces was already coming to an end. But this year, it is still not easy to find an apartment in the rental housing market. We are facing a different situation this year than last year. This shows that To Azerbaijan The arrival of citizens of Russia and Ukraine, including our compatriots living in these countries, has led to an increase in demand in the market. As the search and requests increased, the demand in the market increased. As a result, we are facing an increase in prices. Prices are still the same as at the beginning of this year 10Witness an increase of around 15% and the next in the real estate market rise in price we can see the line”.

The expert believes that the flow of people from Iran to Azerbaijan can increase the price of real estate here:

“If the processes in Iran continue in a negative way, a large number of citizens there may think of coming to Baku first. In such conditions, it is possible to predict the rise of prices in both the rental market and the buying and selling market. If these processes continue, by the end of the year and the beginning of the next year, we can see a repetition of the situation we experienced in the beginning of this year in the real estate market. In other words, we can witness the increase in prices again by leaps and bounds. There is enough reason for this.”

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