Shocking figures: housing in Azerbaijan has risen in price by 55% in 4 years

Over the past 4 years, the housing market has seen a price increase of up to 55 percent. This is reported in the official information of the State Statistics Committee.

As BAKU.WS reports, price increases are observed both in apartments of multi-story buildings and in private residential houses in various locations.

Expert Elnuz Farzaliyev in a comment to "Xəzər Xəbər" noted that in some places the price increase exceeds even the official statistical indicators. According to him, the price increase is most noticeable in houses eligible for mortgages.

The expert reported that currently buying and selling in apartment buildings has relatively weakened. However, if a revival is expected by autumn, then a price increase is also possible. The expert noted that the price increase is more significant in country houses. In old buildings, the situation is the opposite:

"Currently, due to increased demand for private residential houses, country houses, and land plots, there is an increase in their selling prices. In the capital, there are thousands of old buildings that have exhausted their service life, which cannot become the subject of a mortgage, so the demand for them has decreased. This will stabilize their artificial price growth in the future."

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