Activity in Real Estate Market of Baku Dropped by Quarter in a Year

Azerbaijan, Baku, 14 July / Trend , corr U. Ismayilova/ The activity in the real estate market of Baku made up 0.16% (a total of 16 facilities out of 100 were sold) which is 1.4% less against the beginning of the year and 25.1% less than the same period of 2007, MBA Group consulting company said.

In June, the real estate prices increased by 0.9%, period of capitalization of the real estate by 1.8%, and the profitability of the real estate dropped by 1.7% because of the expenditures.

The portfolio was as following in June: apartments -55%, lands - 2%, lease - 13%, and sale of commercial facilities - 7%.

In January to June, the price rose by 10.1% in the first market. The prices made up 19.6% in the second market. The average price of one square meters made up 0.3% in the first market and 0.4% in the second market.

Prices of apartments depending on number of rooms at $ for sq m
Apartments June Rise (by %)
One-roomed 1.901 0.1
Two-roomed 1.850 0.3
Three-roomed 1.798 -1.4
Four-roomed 1.790 -0.3
Five-roomed 1.614 0.1
Average price of Appartmentsin the city 1.827 -0.4

The prices pf lease of real estate which was lower than average prices dropped from 69.3% to 57.7%.

Prices of lease of dwelling areas in 1st and 2nd zones of the city for a month (manats)

Prices of apartments depending on number of rooms at $ for sq m
Apartments June Rise (by %)
One-roomed 1.901 0.1
Two-roomed 1.850 0.3
Three-roomed 1.798 -1.4
Four-roomed 1.790 -0.3
Five-roomed 1.614 0.1
Average price of Appartmentsin the city 1.827 -0.4
Apartments Average prices of Lease Change in prices for a month
One-roomed 374 1.5
Two-roomed 431 0.5
Three-roomed 546 0.3
Multi-roomed 1.012 -1,3
Average price in the city 785 0.4

In January to June the coefficient of the profitability of the commercial facilities dropped in a number of zones of the city and their prices rose by 1.8%, up to $3,431 for sq m. The

The prices of the private houses increased by 3% and totaled to $1,204 sq m or $216, 118 for a house. Plot of land attached to a house decreased by 43 sq m and dwelling areas 179.5 sq m and average number of rooms - 4.1.

The average price in the land market of Baku rose by 0.2% and totaled to $5,062 for a hundreds part.

The number of operations on the sale and purchase of land plots dropped by 2.8% and the level of risks rose by 4.7% in June.

The correspondent can be contacted at: [email protected]

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