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Primary housing cheapens in Baku

Business Materials 23 August 2010 17:22 (UTC +04:00)

Azerbaijan, Baku, Aug. 23 / Trend A.Akhundov/

Average price per square meter in July in the primary housing market amounted to 866 manat, which is four manat (0.4 percent) lower than the figure in June per square meter, Participants of Property Market public organization said.

Prices in July fell by 1.6percent compared to the second quarter, 3.5 percent compared to early 2010, and 8.6 percent compared to the same period of the last year.

The index of prices dropped by 0.4 percent, and amounted to 333.

In July construction of 441 residential buildings were continued, and number of construction companies remained at the same level - 153.

Least of all transactions on purchase and sale were recorded in Yasamal and Khatai districts. On the number of constructed residential buildings among Baku's districts the Yasamal district ranks the first. Khatai and Nasimi rank the second and third.

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