Prices on Baku's primary housing market announced

Prices on the primary housing market in Baku fell by one percent in July compared to the previous month, the Property Market Participants public organization said on Wednesday.

"Compared to the previous quarter, prices fell by 2.3 percent, and compared to the same period last year by 4.1 percent," the organization said.

Compared to the peak crisis period of September 2008 on world financial markets, housing prices in Baku fell by 32.8 percent and amounted to 1,194 manat per square meter.

In July, as in the previous month, the number of new buildings put on the market did not change and amounted to 421. The reason for this was the low level of activity in the property market. Number of construction companies also remained unchanged at 150.


/Trend/