By Trend

The prices for renting apartments have surged in Baku, director general of Azerbaijan’s MBA Group consulting company, expert in the field of real estate Nusrat Ibrahimov, told Trend.

“The prices rose by 2.98 percent while a decline of 0.78 percent was observed regarding rental of commercial facilities in April,” the expert said.

Ibrahimov emphasized that the reason for the rise in prices for renting apartments is the decrease in the portfolio of proposals because of the coronavirus.

The expert added that people prefer to wait for the post-pandemic period for renting apartments.

“A decrease in prices for renting the commercial facilities has been stipulated by a decrease in demand for them,” Ibrahimov added.