Azerbaijan, Baku, may 26 / Trend , U. Ismayilova/
In April, prices on Baku land market fell 3.2 percent up to $20,730 for a hundred part of land, Participants of Property Market public organization said.
About 810,700 hectares of land was supplied to the market. About 76.9 percent accounted for empty lands and the remaining part for non-residential and old residential facilities.
The relatively large decline in prices has been observed in the third and fourth zones of the city. Too high prices in the first and second zones of the city reduced demand and slow-building led to a significant reduction in demand in the third and fourth areas.
Though too unreal prices have not yet affected profitability of land market, the impact is obvious on term of exposition and liquidity of the market. The situation in the market has also led to rise in risks in this segment.
Significant price rise accounted for Sabail district of Baku (5.4 percent). Garadagh district saw 0.7-percent price rise for the first time over the last four months. Surakhani and Narimanov districts remained most active and Nasimi most passive district in April.
The most expensive land was offered in the Narimanov district at 330,000 per hundred parts and cheapest land was offered in Sabunchu at $250 per hundred parts.
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