Azerbaijan records increase in rental prices for commercial facilities in Baku

Economy Materials 30 January 2023 17:11 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 30. The average price for renting commercial facilities in Baku increased in December 2022, CEO of Azerbaijan’s MBA (Marketing, Business, and Analysis) Consulting Group company Nusrat Ibrahimov told Trend.

"The average cost of renting one square meter of a commercial facility in Baku increased by 3.09 percent in December 2022 compared to the previous month, and decreased by 8.65 percent year-on-year, to 16.7 manat ($9.8)," Ibrahimov said.

According to him, the average cost of renting commercial facilities in Baku amounted to 4,551 manat ($2,680) increasing by 12.4 percent over a month (4,049 manat or $2,380), and by 19.29 percent (3,815 manat or $2,240) over a year.

He noted that the total volume of offers on the commercial rental market amounted to 707.

MBA Consulting company was established in March 2008 and provides consulting and marketing services in various fields of economics. The company’s specialists act as trainers at courses organized on marketing, business formation, legal services, realtor activities (purchase and sale of the property), and valuation as well.