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Land exposure term extended in Baku

Business Materials 26 December 2009 15:11 (UTC +04:00)

Azerbaijan, Baku, Dec. 26 / Trend U.Ismayilova

In October, average prices in the land market of Baku fell by 3 percent to $16,842. In November fell by 2.2 percent to $16,341, the Property Market public organization said Dec.25

In October, some 819.3 hectares of land was proposed to the market and in November - 821.1 hectares.

In October, the land exposure term increased by 1.2 percent up to 242 days and in November- 0.8 percent up to 244 days.

In October, the most significant price decrease was observed in the Khatai district of Baku - 7.4 percent.

The Binaqadi, Narimanov and Nasimi   districts of Baku were most active in this period.

In November, the most significant price decrease was observed was observed in the Nasimi district of Baku- 5.4 percent. In November, as well as in October the market did not observed the price rise. The Binaqadi and Sabunchi districts of Baku were most active.

In October, the most expensive plot of land in Baku was proposed in Narimanov district of Baku, amounting to $250,000, the cheapest in Azizbekov district for $625 per hsm.

In November, the most expensive plot of land in Baku was proposed in Narimanov district of Baku, amounting to $150,000, in Absheron region for $400 per hsm.

A summary table shows the change in average prices for land in Baku in October-November:

Zone of city

Prices in USD $/hsm in Oct./Nov.

Change in average prices, in %

I

179310

-1,6

II

102196

-3,5

III

21038

-4,3

IV

4211

-5

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