To Develop Property Market Azerbaijan Should Adopt Experience from Other Countries – American Expert

Business Materials 4 March 2008 10:36 (UTC +04:00)

Azerbaijan, Baku, 3 March / Trend corr U. Ismayilova/ The real estate market in Azerbaijan should efficiently develop in all its segments, the President of the American ACH Consulting Ann McConnachie said at the workshop in Baku dedicated to development of the property market on 3 March.

"In America, if one wishes to become a successful businessman in this field, one must cover not one, but all directions in the market [the market of apartments, commercial outlets, land]," she said.

By the initiative of the Azerbaijani public organization 'Participants of the Real Estate Market', ACH Consulting, which is a member to the International Property Fund, is holding a 3-day workshop in Baku on the subject of 'Organization of Business at Real Estate Market'.

According to the expert, the property market in Azerbaijan is still young, so it must adopt the experience from other countries.

Accordion to the 'Participants of Real Estate Market', in January, the average price for an apartment in Baku totalled $106,283. The average price per sq m totalled $1,515 and the average price for a room was $41,195.

The correspondent can be contacted at: [email protected]