Real estate prices continue to fall in Baku
Azerbaijan, Baku, Jan. 21 / Trend , U.Ismayilova/
Prices on commercial property in Baku fell 12.4 percent from November to December 2008 and 23.4 percent compared to earlier in the year, the Participants of the Real Estate Market public organization told Trend on Jan. 21.
The average price per square meter was $3,417 compared to $3,501 in November.
Commercial property rentals also fell 2.3 percent, the organization said.
A slight 0.4-percent price rise has been seen only in the city's second zone, which includes the Narimanov district. Apartments selling for lower than the average price made up 62.9 percent of the market.
Offers on the commercial property market dropped 5.1 percent in December and purchases fell 8.6 percent.
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