BAKU, Azerbaijan, October 21. Prices for commercial properties in Baku decreased by 0.38 percent in September 2022 compared to the previous month, the Director of MBA Group consulting company Nusrat Ibrahimov told Trend.
At the same time, according to the company, prices for the commercial facilities in the capital grew by 7.11 percent on annual basis.
"The cost of one square meter of the commercial facilities amounted to 3,177 manat ($1,868) in September this year (versus 3,189 manat or $1,875 - in August 2022, and 3,420 manat or $2,011 - in September 2021)," the company said.
Meanwhile, the total volume of offers on the commercial property market increased by 3.19 percent compared to the previous month and by 42.92 percent year-on-year, up to 646.
The growth in the cost of land plots in Baku was also recorded in the market.
The average price of 100 square meters of land was nearly 23,128 manat ($13,604) in September 2022.
This figure grew by 11.19 percent on annual basis, and rose by 14.33 percent over the month, the company noted.