Azerbaijan's primary housing market posts growth in prices, secondary market sees decline

In August this year, the real estate market prices remained relatively stable compared to the previous month, but have shown an 8.42% growth since last year.

Nusrat Ibrahimov, chairman of the Public Association Azerbaijani Society of Appraisers, director-general of the MBA Consulting and Valuation Company, and an expert on the real estate market, told Report that prices in the secondary housing market have dropped.

"Prices in the secondary housing market declined by 2.95% during the month and 1.73% compared to the same period last year. The primary housing market posted a 1.93% growth during the month and 12.18% increase from last year."

"Prices in the rental market increased by 0.36% during the month and by 3.47% compared to last year," he added.