Slight rise in number of newly-erected buildings in Baku

Azerbaijan, Baku, June 8 / Trend , U. Ismayilova/  

In May, prices on real estate market in Baku dropped 1.7 percent up to $970 per square meter compared to $987 per square meter in April, Participants of Property Market public organization said.

There was no price rise in any district of Baku.

The area of apartments under construction increased 1.7 percent to 123.8 square meters on average and indicator of blocs was 2.4 and average indicator of stories 15.1.

In May, construction of 455 (454 in April) was continued. The number of operating constriction companies was 178 as in last month.

Great part of proposals accounted for Yasamal, Khatai and Nasimi districts of Baku which made up 62.2 percent of city's total property portfolio.

Three-bedroom apartments made up great part of the first housing market. Five-bedroom apartments made up majority in the first central part of the city and one-bedroom apartments made up majority in the third part of Baku.

Average area of one-bedroom apartments was 60.9 square meters (as in April), two-bedroom - 83.2 square meters (-0.4 percent), three-bedroom 135.5 square meters (+0.4 percent), four-bedroom -185 square meters (+0.9 percent) and five-bedroom 253.4 square meters (-1.3 percent).