The real estate market in Azerbaijan is stabilized in the mid-2011

13.12.2010 12:11
Real Estate Market Analysis | The real estate market in Azerbaijan is stabilized in the mid-2011 2010 marked the beginning of stabilization of the real estate market in Azerbaijan.
About this said CEO of consulting company "MBA LTD" Nusret Ibrahimov.

According to him, since mid-2007 a decline in the real estate market on such parameters as activity and prices, these tendencies deepened in 2009, and only since September 2010 began the gradual stabilization of the market.

Related article: Average price of real estate in 77% of the world's cities remained stable

"This process will be completed by summer 2011. In this case, the market growth next year is expected. Perhaps this process will be observed only in 2012 "-" Ibrahimov said.

The expert noted that in the future, the growth can be observed only in case if there are certain steps of the state.

"This refers to the growth of energy tariffs, which would entail higher prices. If prices remain at current levels, a slight increase in property prices will occur no earlier than 2012, "- said the head of« MBA LTD ».

Ibrahimov also said that real estate prices in Baku, remain the highest in the Caucasus.

"Of course, according to the parameters of Azerbaijan can not be compared with Moscow, which is the center of the state of global importance. Recently, however, prices in Baku, close to that of Kiev and Almaty. While sales prices have inflated, so the cost of renting behind Ukraine and Kazakhstan by 18-20%. Therefore necessary to reduce selling prices in order to equalize the data bit rates. I think this process will occur in the first half and especially during the first quarter of 2011 "- said the expert.

Content tags: Overseas property
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