Azerbaijan, Baku, Oct. 9 / Trend A.Akhundov /
Rising prices for construction materials adversely affected the activity of the real estate market in Baku, CEO of the Consulting Company "MBA Group" Nusret Ibrahimov said.
"The volume of construction decreased as a result of the increase in prices for building materials, which, in turn, negatively affected the activity of the real estate market," Ibrahimov said.
Ibrahimov said the price index for construction materials dropped by 0.5 percent in September, but rose by 20.1 percent compared to early 2010. Prices rose by 2.1 percent in September compared to the same period of 2009.
"The most significant increase was observed on prices for wood and iron building materials," Ibrahimov said.
Do you have any feedback? Contact our journalist at: [email protected]