30% growth in 2022
Since the end of 2021 prices in the housing market of Azerbaijan have started to rise. In 2022 alone, the growth was about 30%. Price changes continue from the beginning of this year to the present, citing Real Estate Expert Center’s director Ramil Osmanli.
He added that currently the price growth in percentage terms has exceeded the double-digit figure and is just over 13%:
It becomes difficult to predict
“The increase in prices for non-residential premises is observed at the level of 7-8%, and in the land market – an increase of 10%. If this continues, it will already be difficult to predict in what figures these percentages will be expressed by the end of the year and what the market is waiting for.”