17:03 - 4.07.2023
July 4, Fineko/abc.az. The impact of natural disasters, such as earthquakes, on the real estate market is short-term. After the psychological impact of the earthquake on people has passed, prices are formed again based on market conditions.
ABC.AZ reports that this opinion was expressed by expert economist Khalid Kerimli.
He noted that the earthquake that occurred in Azerbaijan on the night of July 4 caused alarm among people. The impact of the earthquake on the real estate market at the present time will somewhat increase interest in the yard system. Because those who had courtyard houses during the earthquake at night preferred to stay in them. The devastating earthquake in Türkiye also had impact on the real estate market in Azerbaijan. The earthquake in Azerbaijan will also affect the growth of prices for both courtyard houses and land plots. The growth of demand is a factor that increases the price. The earthquake will also lead to fluctuations in buyers when buying apartments in high-rise buildings, and the demand for apartments in buildings will fall to some extent.
