Azerbaijan, Baku, July 6 / Trend U.Ismayilova/
In May 2009, price on a square meter of non-residential premises declined by 1.2 percent to $3.060 compared to $31,020 in April, public organization Real Estate Market Participants said. Prices have declined by 15 percent from the same period in 2008 and 6.5 percent as compared to previous quarter.
Drop in prices of commercial properties was observed in all districts of Baku, except Garadagh, where a 0.8- percent increase was occurred due to beginning of a giant trade' centre's activity in this territory, and Azizbeyov (1.2 percent) due to beginning summer season.
Prices on rental of commercial properties dropped 1.2 percent.
Share of apartments offered at prices lower than average price made up 61.9 percent of total market portfolio.
Proposals on the non-residential property markets increased by 0.9 percent in May. Majority of the market's portfolio comprised proposals in the Narimanov District (22.7 percent), as well as Nasimi District (19.6), Yasamal (15.4 percent), Khatai (12.8), Sabail (11.3) and other districts of Baku.
The summary table indicates changes in prices in the city zones:
|
City zones |
Average prices |
Price changes in % |
|
I |
5002 |
-0,9 |
|
II |
3514 |
-1,5 |
|
III |
2267 |
-1,5 |
|
IV |
859 |
-2,6 |
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