According to the Azerbaijani State Statistics Committee, the construction work totaling 6.667 billion AZN was conducted in Azerbaijan in January-October 2014.
Some 63.5 percent of the total volume of construction work accounted for new buildings, reconstruction and expansion, 17 percent - overhaul, 5.9 percent - current repair and 13.6 percent - other construction work.
Main indices of construction sector in Azerbaijan in January-October 2014
|
Commissioned: |
Jan.-Oct. 2014 |
Compared to Jan.-Oct. 2013 |
|
residential buildings, total area, thousand sq. m |
1645,2 |
95,4 |
|
Hospitals |
230 |
21,9 |
|
Secondary schools, educational facilities |
25350 |
93,9 |
|
Pre-school educational institutions, facilities |
1092 |
62,4 |
|
Funds directed to fixed capital, in mln AZN |
13219,8 |
100,6 |
|
Including: |
8857,9 |
115,8 |
|
- for the construction of facilities in service sector |
4361,9 |
79,4 |
|
- for construction and installation work |
9716,5 |
110,8 |
In October, the volume of housing commissioning decreased by 1.6 times compared to September 2014, but by 24.6 percent compared to October 2013.
According to the Azerbaijani State Statistics Committee, around 185,900 square meters of housing were commissioned in October compared to 313,800 square meters in September ( the best index in 2014). Around 1.645 million square meters of housing were commissioned in 2014 or by 4.6 percent less than in 2013 (1.724 million square meters).
Housing market
The Central Bank of Azerbaijan said that the real estate market turnover increased by 27.66 percent in January-October from year to year. As of 2013, its growth was 40.9 percent compared to 2012.
As of November 1, 2014, the real estate market turnover (cash turnover of the notary offices) amounted to 3.978 billion AZN compared to 3.116 billion AZN a year earlier.
At the same time, a 16.94 percent decrease in the share of mediators (banks, notaries and realtors) on residential real estate transactions is observed from year to year.
As of November 1, 2014, the share of mediators was 306.383 million AZN compared to 368.862 million AZN a year earlier. The share of the banks' mortgage loans given the general involvement of mediators was 26.76 percent in January-October. The banks issued mortgage loans worth 82 million AZN compared to 86.4 million AZN a year earlier. The mortgage ensured only 3.83 percent of payments on real estate transactions in January-October.
Building material market
In Jan.-Oct. 2014, the companies engaged in building materials manufacturing in Azerbaijan, produced goods worth 378.1 million AZN, or 20.9 percent more than in the same period of 2013, according to the Azerbaijani State Statistics Committee's report for ten months.
During this period, Azerbaijan produced 2.45 million metric tons of cement (a 39.7-percent increase versus the same period of 2013) and 158,800 metric tons of plaster (a 28.6-percent decrease), said the report.
Azerbaijan also produced 1.45 million metric tons of ready-mixed concrete (up by 26 percent), 344,800 metric tons of asphalt (a 3.3-percent decrease), 30,000 cubic meters of precast concrete building structures, 4.24 million metric tons of processed marble, travertine, alabaster and items made of them.