BAKU, Azerbaijan, December 29. The average price for renting commercial properties in Baku has increased over the year, the CEO of Azerbaijan's MBA (Marketing, Business, and Analysis) Consulting Group told Trend.
"In November 2023, the average cost of renting an object in Baku decreased by 3.98 percent compared to the previous month and grew by 27.56 percent (5,165 manat or $3,040) year on year," Ibrahimov said.
He stressed that the overall number of bids on the commercial rental market was 841 (up 19.97 percent year on year and 1.82 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.