Property Prices Hike 50% in Azerbaijan’s Southern Region
Azerbaijan, Baku, 2 June / Trend corr U. Ismayilova, P. Aliyeva/ In April, property prices in the Lankaran region in Azerbaijan increased by 20% from the beginning of the year and by 50% from the same period of 2007, Mirza Aliyev, Director of Elnur LLC realtor company, said on 31 May.
"A square metre of property in the central part of the city costs $1,500, in micro region - $1,000," Aliyev said.
According to Aliyev, in Lankaran leasing of 4 sq m of commercial property costs AZN 100 per month, 6 sq m - AZN 150, 60-100 sq m depending on location - between AZN 800 and AZN 2,500.
"In July-August, prices are expected to rise in the land market at least by 15% given seasonal factors," Aliyev said.
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