Cost of Most Expensive Land in Baku Announced

Business Materials 28 February 2008 18:35 (UTC +04:00)

Azerbaijan, Baku, 28 February /corr. Trend U.Ismaylova / In Jan, the most expensive land plot in Azerbaijan was sold in Baku's district of Nasimi for $310,000 per one hundred square metres and the cheapest - in Garadagh district for $350 per one h.s.m, the public organization Participants of Real Estate Market reported on 28 February.

In Jan, the average price of one h.s.m decreased by nearly 0.9%- up to $23125, as compared to $23335 in Dec 2007.

Significant change of the prices took place in three districts of Baku (Nizami, Nasimi and Surakhani), whereas the stability was observed in other districts.

In January, of suggested 862 hac lands, 61% are empty plots.

Summary table of price change for lands plots in Baku:

Zone of the city Prices in $ per one h.s.m Average change of prices in % (January to December)
I 220214 -1.37
II 126732 2.5
III 36406 -0.1
IV 4551 7.6