Prices on Baku primary housing market up gradually
Azerbaijan, Baku, Oct. 30 / Trend , U.Ismayilova/
In September, 2009, average prices increased slightly on the primary housing market in Baku.
Pubic union Real Estate Market Participants reported that in September prices grew by 0.8 percent and totaled on average $956 ($948 in August) per square metre.
"Price rise was especially observed on cheaper primary housing," the organization reported.
According to experts of the organizations, a price rise on the primary housing market was triggered with a seasonal period.
An average area of the primary housing in Baku was 121.8 square metres, average block figure increased by 4.3 percent and was 2.4 and an average figure of floor was 14.9 in September.
In September, rise in prices was registered in Yasamal (2.6 percent), Narimanov (2 percent), Nizami (1.1 percent) and Nasimi districts (2.8 percent). Prices reduced in Sabail (2.9 percent), Surakhani (10.6 percent), Binagadi (2.8 percent) and Sabunchi districts (11.1 percent).
Prices in other district remained stable.
As for late September, 2009, 456 new apartment buildings were constructed in Baku, construction of which was conducted by 154 building companies.
Majority of new buildings is being constructed in the Yasamal, Nizami and Khatai districts of Baku, it comprised 63.4 percent of total apartment buildings.