Land market cheapens in Baku

Business Materials 19 March 2010 17:56 (UTC +04:00)

Azerbaijan, Baku, March 19 / Trend U.Ismayilova /  

In February, the average price of one hundred square land in Baku fell by 1.7 percent up to $14,521compared to $14769 in January, the public organization "Participants of property market" said today.

Decline was observed in all districts of Baku. The most significant decline in prices was in Yasamal district of Baku - by 2.4 percent.

The land market of in Baku offered the most expensive land in Nasimi district - at $ 180,000 per hundred square meters, the cheapest - in the Absheron area - at $ 350 per hundred square meters in February.

In total, about 810.7 hectares of land was proposed in February, about 76.9 percent were vacant lands. A term of land exposition in February increased by 1.2 percent up to 252 days, which is mainly observed due to the excess of supply over actual demand, as well as seasonal passivity.

The most active areas in the past month are Binagadi and Nizami, and passive Nasimi.

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