BAKU, Azerbaijan, October 7. Average prices of private and country houses grew in Baku in August 2022, Director of Azerbaijan’s MBA Consulting Group Nusrat Ibrahimov told Trend.
According to Ibrahimov, the cost of one square meter of the above houses in the reporting month amounted to 934 manat or $549.4, up by 4.83 percent compared to July 2022 (891 manat or $524.1) and by 12.39 percent compared to August 2021 (831 manat or $488.8).
Meanwhile, prices for commercial facilities in Baku decreased by 4.89 percent compared to the previous month, and by 3.31 percent over the year, he said.
"The cost of one square meter of commercial facilities in August 2022 amounted to 3,189 manat or $1,880 (versus 3,353 manat or $1,970 in July 2022, and 3,298 manat or $1,940 in August 2021)," the director noted.
As for the cost of land plots in Baku, a decline was also recorded in this segment of the market. In August this year, the average price of 100 square meters of land was about 20,229 manat ($11,900). On annual basis, this figure decreased by 7.2 percent (21,799 manat or $12,820 in August 2021), and over the month - by 4.8 percent (21,248 manat or $12,500 in July 2022), added Ibrahimov.