In previous years, it was very difficult to find an apartment for rent in August. Finding daily rental housing in the regions was generally difficult. Even vacationers booked their homes a month in advance. This month, as the selection of specialties for universities began, there was a revival in the rental housing market in the capital.
We can not say the same for this year. One of the areas most affected by the pandemic is housing, especially the rental market.
Speaking to Publika.az, real estate expert Elnur Farzaliyev said that the rental housing market is reviving this month compared to previous months.
He said that there are problems because the leased facilities have been closed for a long time: “Even vacant facilities are no longer rented. Because it is unknown when some areas will start operating. At present, rented apartments are relatively cheap, and there is a demand for apartments worth 300-400 manat in old designed buildings. Expensive people are experiencing stagnation.
The expert noted that the rental housing market is always stagnant in the summer months. But this time the stagnation has been going on for more than 5 months:
"Currently, both students return to their homes and foreign businessmen working in our country. In this case, the rental market is stagnant. However, the stagnation due to the pandemic began in late March. Due to the closure of educational institutions and the departure of foreign nationals from Azerbaijan, this process was accelerated for several months. However, there is some revival, and compared to last month, the demand for rental housing has increased by 20-30 percent.
E.Farzaliyev said that the objects that are experiencing the greatest stagnation today may return to their previous state a few months after the end of the pandemic: “Currently, the facilities remain closed and training courses, clothing stores and other catering facilities are not allowed. Although not effective, most of them operate online. Even if the facilities start operating today, the general economic situation will prevent them from operating as before. At present, the prices of some facilities have fallen, and it is very risky to rent others, the prices of which are slightly higher.
The expert stressed that the demand for daily rental housing is almost zero: “Because tourists do not come from abroad and people can not go to the regions for recreation. There is no demand for the daily housing market, despite the fact that it is summer. The situation in hotels is not good. The situation is not good, especially in the regions. "
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