BAKU, Azerbaijan, May 12. Prices for commercial properties in Baku decreased by 8.6 percent in April 2022 compared to the previous month, Trend reports with reference to Azerbaijan’s MBA LLC consulting and valuation company.
At the same time, growth in prices for commercial facilities in capital amounted to 10.46 percent on an annual basis.
Cost of one square meter of commercial facilities amounted to 3.3 manat ($1.9) in April 2022, 3.6 manat ($2.1) - in March 2022, 2.9 manat ($1.7) - in April 2021, the company said.
Total volume of offers on commercial property market increased by 2.6 percent in April 2022 compared to the previous month and by 11.6 year-on-year to 574.
Decline in the cost of land plots in Baku was also recorded in the market.
The average price of 100 square meters of land was about 18,850 manat ($11,088) in April 2022.
This figure fell by 11.3 percent on an annualized basis, and over the month - by 11.07 percent, MBA company said.
Total volume of offers on the land plot market increased by 13.4 percent in April 2022 compared to the previous month, and decreased by 5.2 percent year-on-year, to 616.