Azerbaijan, Baku, July 7 / Trend U. Ismayilova /
Average prices for the real estate market of Baku in June reduced fell 0.4 percent, compared to the same period last year - by 4.7 percent, by the beginning of the year - by 3.3 percent, expert, CEO of MBA Group consulting company Nusret Ibrahimov said.
"Increase in pries did not happen on any of the segments of the housing market of Baku", Ibraimov said.
Prices for primary market of Baku in June reduced by half percent up to $799 on average per square meter. Prices on this market segment reduced by 8.6 percent, by the beginning of the year - by 4,5 percent.
Prices reduced by 0,8 percent up to $1,320 per square meter on average on the secondary market. Last year, prices for second houses reduced by 7.1 percent, by the beginning of the year - by 4,2 percent.
The Land Market of Baku also cheapened in price in June by 0.3 percent up to $15,704 per one hundred square meters on average. Prices for the same period last year reduced by 12.7 percent, by the beginning of the year at 9.6 percent.
The market of commercial buildings of Baku in June reduced by 0.7 percent up to $3,297 per square meter. Last year, these prices reduced by 5.2 percent, 3,3 percent in early 2010.
The average price of an apartment last month was $ 675 per apartment, which is 0.3 percent less than in May, 6.8 percent less than in the corresponding period last year and 6.4 percent less than at the beginning of the year.
Rent of commercial buildings for the month dropped by 3,2 percent up to $2,581 per facility. Prices in this segment of the market reduced by 13.6 percent.
Activity of the housing market of Baku is at a weak level. About 11 percent of all the proposed sites on the market were sold in June. The normal rate of activity is the sale of 40 percent of the proposed facilities, " Ibrahimov said.