Azerbaijan, Baku, Jan.27 / Trend , U.Ismayilova /
Azerbaijan's property market prices decreased by 15.2 percent in 2009 compared to the year before, Property Market Participants, public organization, reported.
In the primary housing market there was a 17.5-percent decrease and 14.2 percent in the secondary housing market. Experts explain the decrease with the population's reducing purchase capacity.
According to the organization, property market prices in Azerbaijan in 2009 decreased by 14.5 percent compared to 2008; the market of non-residential facilities by 10.8 percent and the rental market by 11.5 percent.
The organization reported that the price of construction materials has also fallen by 21.1 percent in 2009.
Azerbaijani State Statistics Committee reported that in 2009 the country's construction operations decreased by 12 percent with up to 3.16 billion manats ($3.95 billion) compared to 2008. The State Statistics Committee noted a reduction of construction, both in the private and public sectors.