BAKU, Azerbaijan, June 15. The prices for the rental of commercial facilities decreased in Azerbaijan’s Baku, in May 2022, an MBA Group consulting company told Trend.
The cost of renting one square meter of the facility in Baku decreased by 8.65 percent (to 17.11 manat - $10.06) in May 2022 compared to the previous month and 0.06 percent year-on-year.
The average cost of commercial facilities renting in Baku was 3,796 manat or $2232.9 (decrease of 7.07 percent per month - 4,085 manat or $2402.9, and an increase of 21.9 percent over the year - 3,114 manat or $1831).
“We note that the total volume of offers on the market of rental apartments in Baku, in May 2022 decreased by 8.17 percent (to 573) compared to the previous month, year-on-year - by 13.18 percent,” MBA Group said.
According to the MBA Group, the average price of one square meter of private and country houses in Baku was about 7.77 manat ($4.5) in May 2022. This figure remained unchanged in annual terms, and during a month increased by 0.65 percent.
The total volume of offers on the market of private and country houses increased by 0.72 percent (to 560) in May 2022 compared to the previous month, year-on-year - by 3.54 times.