BAKU, Azerbaijan, June 7. Prices for commercial properties increased by 12.58 percent in April 2023 compared to the same month last year in Baku, Director of the MBA Group consulting company Nusret Ibrahimov told Trend.
The growth of prices for commercial objects in Baku on a monthly basis amounted to 7.35 percent.
"The average cost per square meter of the area of commercial facilities in April 2023 amounted to 3,697 manat ($2,174)," Ibrahimov said.
An annual increase was recorded in this segment of the market as for the value of land plots in Baku.
"The average price of one 100 acres of land was 23,408 manat ($13,769) in April 2023. On an annualized basis, this indicator increased by 24.177 percent, and for the month - by 4.72 percent. The volume of offers amounted to 713 (growth for the month by 3.94 percent, for the year - 15.75 percent)," he said.