Nusrat Ibrahimov: "On the secondary market the consumer demand makes $1200 per square meter. Most people prefer buying flats in new buildings"

The activeness on the real estate market of Azerbaijan has reduced significantly, said Nusrat Ibrahimov, general director of the MBA Consulting company, speaking about main trends on the real estate market of the country and the purchasing capacity of the Azerbaijani population.

According to him, the number of concluded deals on real estate sale and purchase has recently reduced significantly.

At the same time, he said the number of deals to purchase real estate property in credit as well as using a residence as a pledge for some purposes has reduced.

"Today, on the secondary market the consumer demand makes $1200 per square meter, which is 30% lower as compared to the average market limit. The purchasing capacity of the population is on this very level.

Thus, by our researches on the "secondary" market the cost of a square meter of a residence makes $1717 in average, while on the "primary" market the same indicator reaches $1154. Thus, if an owner of a residence, estimated at $130,000, presents property to the market cheaper than the average market price by 30% ($90,000), the property sale will not be difficult", said he.

According to Ibrahimov, this proves that the real purchasing capacity of the population is lower than the average market figure.

/Day.Az/