Azerbaijan, Baku, 23 August/ TrenCapital, corr U. Ismayilova/ In July, the average prices in the land market of Baku fell by 3.2% to $24,865 as compared to June, Players of Estate Market public union said.
In July, unsettled land plots accounted for 76.3% of the supplied 819 ha of land in the market.
The monitoring indicated that in July there was a high demand for land plots in suburban districts of Baku which are cheaper than the land plots in the center of the city, hence the drop in land prices in a month.
In July, the most active districts were Absheron and Sabail (due to private houses and cottages), Binagadi (due to cleaning of industrial enterprises) and Sabunchu (due to unsettled lands). The most passive districts were Nasimi and Garadagh regions.
Layout term of land plots increased by 3% to 172 days due to the drop in supply in the center and in the third and fourth zones of the city where land plots are supplied cheaper than the real cost.
In July, the most expensive land plot in Baku was offered at $40,000 for hundred part in Narimanov district of Baku and the cheapest - $500 for hundred part in Sabunchu district.
There have been significant rise in prices in Surakhani district of Baku by 29.% and a significant drop in Binagadi district by 12.3%.
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