Prices of Real Estate in Azerbaijan’s Regions Increased by Average 25%

Business Materials 29 February 2008 17:38 (UTC +04:00)

Azerbaijan, Baku, 29 February /corr. Trend V.Mammadov / This year, the prices for yard houses in Azerbaijan's city of Ganja increased by almost 25% and apartments in multi-storied buildings by 12-20%, the public organization Participants of Real Estate Market reported.

The prices for the land plots increased by 30-40% as compared to the last year, the organization said.

"At present, the price of the land plot per four hundred square metres outside city is $10,000, but the price of one hundred square metres in the center of Ganja is $10,000," a source in the market said.

The cost of the one-room apartments in the center of the city totals $30-35,000, but outside the city - $30,000, two-room apartments in the center of the city - $45-55,000 and outside city - $30-37,000.

At present, the construction of 16 new large buildings is under way