Apartment prices in Azerbaijan have risen sharply

Over the past five years, housing prices in Azerbaijan - both in the primary and secondary markets - have increased by 46%.

As reported by BAKU.WS with reference to Xəzər TV channel, this is stated in the semi-annual financial stability report of the Central Bank of Azerbaijan.

According to real estate expert Elnur Farzaliyev, the real estate market is experiencing a constant increase in prices. The price increase continues both in new buildings and in the secondary housing market.

The specialist noted that despite the growth in mortgage lending since 2020, the pace of this growth began to decline from 2023.

According to him, this is due both to the limited loan amount issued by the Mortgage and Credit Guarantee Fund, and to the structure of bank financing, which restricts their ability to issue mortgages from their own funds.

Currently, apartment prices continue to rise, which experts explain by the increasing cost of construction materials and high demand for new residential projects.

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