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2024-08-13 03:45:44
Currently, there is a serious stagnation in the capital’s real estate market. There is a shortage of buyers in the segments of the market related to apartments and courtyard houses. Realtors explain this trend for various reasons.
Day.Az reports that Jeyhun Ahmadov, an expert on property issues, speaking to Yenisabah.az, said that the shortage of buyers observed in the market had a serious impact on prices:
“If we talk about courtyard houses, there is generally stagnation here. Previously, it was difficult to find a house in the settlements such as Masazır, Khirdalan, Bilajari, which are close to Baku, but now the situation is completely different. Sales have decreased sharply. There are several reasons for this. First of all, it is the summer months. , therefore, the purchasing power has decreased. This is the reason why many people prefer to live near the city and near the university where they study if we consider that the traffic jams on the capital’s roads are intensifying day by day, then it is possible to better understand the customers.” Create a site
The expert drew attention to the fact that house and land prices have fallen sharply in some parts of Baku.
“Previously, courtyard houses were intensively sold in Sabunchu, Surakhani, and Binagadi regions of Baku. However, the situation has changed dramatically. This is also related to the new rules that have been applied. No one wants to buy land with incomplete documents and build a house, because it means laying utility lines to the house being built. On the other hand, the construction works carried out in the illegally occupied areas are strictly prevented. In this regard, the prices of land and houses in the capital are much lower than the previous ones Currently, it is easier to find cheap houses in Absheron and Sabunchu district.”