15:09 - 22.02.2023

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February 22, Fineko/abc.az. The prices in the housing market have increased by 8% in Azerbaijan, according to the CBA Monetary Policy Review Jan-Dec 2022.

ABC.AZ reports that broker Nizami, who is engaged in the purchase and sale of houses in Baku, told Azadlig Radio that prices for courtyard houses have increased: "Prices have increased by an average of 10,000-15,000 manats. Housing for 43,000 manats is sold for 55,000 msnats."

He added that after the earthquake in Turkiye, the demand for private homes increased: "Prices rose mainly due to the growth of demand."

As for the prices of apartments in new buildings, the broker noted that, although there was an increase at the beginning of the year, prices are currently stable.

And real estate expert Nusrat Ibrahimov saud that it is not yet known for sure whether housing prices in Azerbaijan will increase or decrease against the background of the earthquake in Turkiye: "At the end of the month we will analyze the results. But in general, demand in the market has partially fallen, activity has decreased, and people are waiting. It will probably take two to three months before they overcome a certain psychological barrier."