Azerbaijan, Baku, June 4 / Trend U. Ismayilova /
Real estate market of Baku dropped in price by 0.9 percent in May, general director of consulting company MBA Group Nusret Ibrahimov said.
On the primary market housing prices fell in May by 1.1 percent, from $820 per square meter to $811. By the beginning of the year prices fell by 8.9 percent (from $837) per year - by 15,3 percent (from $958), he said.
On the secondary market houses cheapened in May by 1.3 percent from $1,348 per square meter to $1,330. By the beginning of the year prices fell on the secondary market by 3.5 percent (from $1,376), by the same period last year up to 6.4 percent (from $1,425).
Land market rose in price by 0,9 percent - from $15,604 per one hundred square meters up to $15,749. By the beginning of the year prices have fallen on this market by 9.3 percent, by the same period last year - by 15.7 percent.
Houses have fallen in price in May by 1.9 percent from $690 per square meter to $677 per year. Decline in prices was 10 percent, since the beginning of the year - by 6,9 percent.
Rent of commercial buildings also became cheaper by 0.2 percent from $2,505 on average for the facility to $2,500. Prices reduced for the lease of nonresidential facilities by 7 percent, by the beginning of the year - by 12.7 percent.