BAKU, Azerbaijan, December 18. The average price for renting commercial properties in Baku has increased over the year, Director of the MBA Consulting Group company Nusrat Ibrahimov told Trend.
"In October 2023, the average cost of renting an object in Baku climbed by 0.9 percent compared to the previous month, and by 15.26 percent (5,379 manat or $3,164) year on year," Ibrahimov said.
He stated that the overall number of bids on the commercial rental market was 826 (up 18 percent year on year and 0.6 percent compared to the last month of 2023).
As of January 1, 2023, the average cost of renting commercial facilities in Baku was 4,551 manat ($2,677), with a total volume of 707 offers.