Azerbaijan, Lankaran, 11 November / corr Trend U.Ismayilova, P.Aliyeva / Prices at real estate market in Lankaran region, Azerbaijan, (270km south of Baku) reduced by 15-20%, Airza Aliyev, a director of Elnur realtor company LLC, said.
"Presently, the price for a one-roomed flat in a center of a city totals $35,000-$40,000, two-roomed and three-roomed flats cost $45,000-$60,000 and four-roomed and five-roomed ones - $65,000-$75,000," Aliyev said.
"The price for the one-roomed flat in microdistricts and blocks of the region totals $18,000-$22,000, $25,000-$30,000 - for two-roomed flats and $30,000-$40,000 - for three-roomed and four-roomed ones. The prices for private houses range from $50,000 to $600,000," he said.
"In September, the prices in a land market of the region also reduced by 15-20%, to $1,000-$8,000 per 100sq m," Aliyev said.
In September, prices increased by 55% to AZN 100-600 only in the market of house rent depending on location and conditions.
"Such tendency of drop in prices in the house market of Lankaran region will continue by March-April 2009," Aliyev said.
In September, the average price of the houses at the real estate market of Baku reduced by 0.9% to $135,510. In September, prices of houses increased only by $2 per sq m to $1,626. In September, the average price of one room totaled $56,690 (+2.8%), an average room indices totaled 2.39 (-3.6%).
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