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Drop of Prices in Land Market in Baku

Business Materials 27 November 2008 17:11 (UTC +04:00)

Azerbaijan, Baku, 27 November / Trend , corr. U.Ismaylova /In October, the most expensive land plot was supplied in the Narimanov District of Baku - $48,000 per square metre and the cheaper - in the Azizbayov District - $660 per square metre, the public organization 'Participants of the real property market' reported.

In October, the average price per one square metre reduced by 0.1 percent to $25,200 compared to September. The exposition term of land plots increased by 2.7 percent - up to 189 days.

Some 76.8 percent of hectares of lands out of the supplied 811hectares to the market made up empty plots and the rest- non-housing plots.

Summary table of the dynamics change of prices of land plots in Baku:

Zone of city

Price per hundred sq.m, in USD

Growth per month in %

I

221751

0.8

II

131673

0.6

III

38008

-0.3

IV

7418

0.3

The correspondent can be contacted at: [email protected]

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