What is the sharp increase in prices in the housing market? |
Recently, there has been an increase in prices in the property purchase and rental housing market.
Elnur Farzaliyev, an expert on real estate issues, also said that in the last two months, the housing market prices increased sharply.
According to him, the main reason for the price increase is the housing shortage:
“So, most of the apartment buyers rent their houses. Most of those who buy these houses are those who buy the house with a loan. There are buildings in the capital that have expired. According to official information, there are about one hundred and forty dilapidated buildings in the capital. Price increase is also observed in such buildings. The main reason for the increase in the price of apartments in old and dilapidated buildings is the demolition of those buildings and the construction of new buildings in their place under pilot projects. To a person who has an apartment in a demolished building, a renovated one in a newly built building 20 more than a square meter apartment is provided. In addition, rent is paid to the apartment owner until the new building is built. Due to such cases, the price increases. In this regard, there are serious problems in the rental market. Cheap rental apartments are also mostly found in these demolished buildings. In addition, the rented apartments in the demolished building are also leaving the market.”