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Prices for commercial real estate drop in Baku in fourth quarter

Business Materials 15 December 2008 12:27 (UTC +04:00)

Azerbaijan, Baku, Dec. 15 / Trend , U.Ismayilova/

In Nov. prices at commercial property market in Baku dropped by 1.6% as compared to Oct. and by 26.4% - as compared to early 2008, the Participants of real estate market public organization told on Dec. 15.

An average price for sq.m of commercial property made up $3,501 in Nov. as compared to $3,559 in Oct.

A slight price rise has been observed only in the first zone of the city, including Narimanov District - by 1.2%, Nasimi District - by 1% and Sabayel District - by 0.3% and prices in the rest zones have cut.

In Nov. offers fell by 4.8% at commercial property market, number of purchase operations of properties fell by 10% and term of exposition of properties rose by 6.9%

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