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Prices remain stable on Baku's market in June

Business Materials 3 August 2010 15:23 (UTC +04:00)

Azerbaijan, Baku, August 3 / Trend U. Ismayilova /

Prices have not changed in June on the primary housing market of Baku and amounted about $870 per square meter, Public Organization "Property market participants" said.

Prices for primary housing reduced by 1.1 percent in June compared to the beginning of the second quarter, three percent - by the beginning of the year, 7,8 percent - by the same period of last year. Prices reduced by 27.1 percent by the most active period of the real estate market of Baku - September 2008, the organization said.

There is a passive situation with the sale of property on the primary market of Baku, as well as on other market segments.

Construction of 153 (152 in May) buildings was held by 440 (439) construction companies in Baku in June.

As in previous months, most of the portfolio of primary residence of Baku were buildings in Yasamal (27.3 percent), Khatai (20,9 percent) and Narimanov (17.3 percent) districts of Baku.

A summary table provides data for sale of primary residence in Baku:

Flats

Number of rooms in May

Number of rooms in June

Average index in May (sq. m.)

One-room

11828

11842

61,3

Two-room

20252

20259

92,8

Three-room

26289

26317

132,4

Four-room

7772

7779

190,5

Five-room

908

908

252,4

total

67049

67105

145,9

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