Supply dominates over demand at commercial facilities market in Azerbaijan

Business Materials 25 January 2010 18:14 (UTC +04:00)

Azerbaijan, Baku, Jan. 25 / Trend U.Ismayilova /

In December 2009, the prices on Baku commercial facilities market increased by 2.6. Decrease of demand and market prices led to increase exposition terms and risk level, respectively, public organization Participants of Real Estate Market said

In December, the prices fell by 0.3 and 0.7 percent both on the market of the commercial facilities sales, and on the lease market.

In December average price of nonresidential facility hit $2,290 compared to $2,998 in November  

The prices on the commercial facilities market fell by 0.2 percent in the past quarter compared to 10.9 percent the same quarter of 2008

The prices for nonresidential facilities decreased by 0.1, 0.3, 0.6 and 0.9 percent

The most significant increase in prices occurred in the Garadakh district of Baku by 2.6 percent, and drop - in the Azizbekov district of Baku by 1.9 percent

Share of the commercial facilities proposed on the market lower than an average price comprised 58.4 percent of the total market portfolio