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Land Market Drops in Baku in Nov

Business Materials 10 December 2008 14:42 (UTC +04:00)

Azerbaijan, Baku, 10 Dec / Trend , corr.U.Ismayilova / The most expensive land plot was sold in the Nasimi District of Baku for $390,000 and cheaper $350 per 10 square metres in Surakhani District of Baku, the MBA Group consulting company reported.

In Nov, the price per one square metre decreased by 2.8% to $24,280 against Oct.

The most active change of prices was observed in Shikhov, Masazir, Bina and Buzovne settlements.

The summary table shows the change of prices in Nov:

Zone

Cost $ per 10 square metre

Average cost change in %

I zone

232,106

-0.7

II zone

135,802

5.6

III zone

327,62

-8.5

IV zone

5,559

-7.7

In Nov, 62% out of 837 hectares of land supplied to the market made up empty lands, the rest fell on non-housing and old housing.

The territory of land plots, where the construction of housings was launched in Nov, made up 7%, as well as 31.2% falls on old premises.

The exposition term of land market increased by 10.5% percent - up to 226 days in Nov with respect to the financial situation at local markets.

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