Prices of new buildings in Baku city continue to go up.

April monitorings show that price rise in housing market has continued in April, too. The growth was observed both in price and dynamics of transactions. 

‘Property Market Participants’ Industrial Union says price rise is caused by seasonal factors, mortgage lending, growing loan portfolio of construction companies, increase of population’s purchasing power in connection with construction works carried out in some areas of the capital. Consequently, growth is observed also in the number of appeals to purchase and sale agencies. Average cost per square foot in new buildings in April was AZN 821.6, up 0.1% compared to previous month. The prices declined 2.1% compared to last year. 

Notwithstanding high sale period of commercial facilities in new buildings, their sale prices went up. Only top-floor apartments stay out of sale. Most of the new buildings are in Yeni Yasamal. 

www.apa.az