Real estate prices will decline in Azerbaijan.

Analytical Group of Report News Agency predicts that the last increase in customs duties will affect the car market. In addition, appreciation of the dollar and corresponding increase in imports will also affect their cost.

In 2018, real estate will fall in price by a decline in real incomes, "The real incomes of the population are reduced due to the increase of imported goods in manat equivalent, increasing utility costs. Cuts in public sector investment for next year by 1.14 bln AZN, or 38%, along with the cash money supply, will have an impact on economic growth.At the same time foreign investment reduction factor due to the global financial crisis will have an impact on the decline in revenues. The budget also provides for reduction of the defense, utilities, as well as on the culture around 1 bln AZN."

The experts predict depreciation of real estate at 10-15% in case of preservation of the dollar in the range of 1,60-1,70 AZN/USD.


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