Price rise for commercial properties in Baku's two districts: experts
Azerbaijan, Baku, June 29 / Trend , U.Ismayilova/
In May, the commercial property market of Baku experienced a 1.2-percent price cut, the Estate Market Participants public association said on June 29.
"In May prices on the market dropped to $3,065 for hundred parts compared to $3,102 in April," the association said.
Properties offered on the market lower than an average price ($3,065) comprised 61.9 percent of the market portfolio. Prices fell by 6.5 percent compared to early 2009 and by 15 percent - compared to the same period of 2008.
An exposition term of non-residential properties increased by two percent that led to rise of risks on the market.
In May, price cut was observed in all districts of Baku, except the Azizbayov District - a 1.2-percent growth and Garadagh - a 0.8-percent. The organization's experts believe price rise in the Garadagh District is connected with opening of a new trade centre and growth of demand, but in the Azizbayov District - beginning of a season.
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