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Fall in Prices of Non-residential Premises in Baku

Business Materials 27 November 2008 16:32 (UTC +04:00)

Azerbaijan, Baku, November 27/ Trend , corr U. Ismayilova/ In October, one sq m of non-residential premises in Baku fell by 2.8% to $3,559, Participants of Estate Market public union said. Since the beginning of the year, prices of non-residential premises fell by 1.6% as compared to previous quarter and 28.5% as compared to the beginning of the year.

The average price for rent of non-residential premises fell by 2.7% in October. The share of commercial premises supplied to the market at lower than average price made up 61.2% of a total portfolio.

The supply in the market of commercial premises reduced by 5.7% in a month and number of sale-purchase operations - 5.2%.

Comparative table of prices of non-residential premises IN Baku in October:

Zone of the city

Price of a sq m ($)

Growth in a month (%)

I

5435

-2

II

3813

0,5

III

2746

-2,2

IV

1112

-2,4

The correspondent can be contacted at: [email protected]

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