BAKU, Azerbaijan, April 10. The prices for commercial facilities in Baku decreased by 7.67 percent in February 2023 on annual basis, CEO of Azerbaijan’s MBA (Marketing, Business, and Analysis) Consulting Group company Nusrat Ibrahimov told Trend.
According to Ibrahimov, in monthly terms, the above prices grew by 14.73 percent.
"The average cost of one square meter of commercial facilities in Baku in February this year amounted to 3,350 manat ($1,967), while the volume of offers was 669", he said.
As for the cost of land plots in Baku, an annual increase was recorded in this segment of the market.
"In February 2023, the average price of 100 square meters of land plot was 21,796 manat ($12,802). On annual basis, this figure increased by 22.64 percent, and a decrease of 15.7 percent was recorded over the month," he added.
Moreover, total land market offers dropped by 5.94 percent against the previous month, and increased by 28.36 percent year over year, up to 697.
MBA Consulting company was established in March 2008 and provides consulting and marketing services in various fields of economics.