Individual houses, cottages on decline in Baku

In September this year, prices for individual houses, including summer houses/cottages in Baku, lowered by 4.96%, Report informs.

Compared to last year's same period, prices rose by 43.73%, said Nusrat Ibrahimov, chairman of the Azerbaijan Society of Appraisers and director-general of the MBA consulting and appraisal company.

Supply for individual houses and cottages increased by 12.1% in September and declined by 47.42% during the year.

Rental prices for individual houses and cottages decreased by 9.57% during the month and 5.95% compared to 2020. Supply in the market increased by 56.82% during the month and 46.81% throughout the year.