Azerbaijan, Baku, Dec. 2 / Trend U.Ismayilova /
The real estate market of Azerbaijan is expected to intensify in the second half of 2011, "MBA Group" consulting company director general Nusret Ibrahimov said.
"The process of investments in the market will resume by this period. It is at a very low level", he said.
He said that today the state of the real estate market in the country is assessed as a stable after a period of crisis.
"Prices have dropped by 7 percent since 2010 up to now compared to 13 percent over the last year. It testifies a gradual stabilization of the market," he said.
Prices on the real estate market in Azerbaijan increased by 0.9 percent in October, reduced by 6 percent since early 2010 and by 6.6 percent per year, he said.
Prices dropped in the primary housing market at 0.8 percent from $783 per square meter in September to $777. Since the early 2010, price fell by 7.2 percent and by 12.7 percent compared to the same period last year.
Prices in the secondary housing market increased by 1.6 percent in October from $1,285 per square meter to $1,305. Prices for the beginning of year declined by 4.6 percent and by 5.4 percent for the year.
Prices on the commercial property market increased by 1.6 percent in October from $3,210 per square meter to $3,261. By the beginning of the year prices fell by 3.8 percent and by 2009 - 6.7 percent.
The land market is also slightly raised last month by 2.4 percent from $16,310 per one hundred square meters up to $16,700. By the beginning of the year prices fell by 3.9 percent and by the same period of 2009 - by 6.1 percent.
The price index for construction materials increased in October by 1.2 percent - from 395.1 points to 400 points, since early 2010 - by 6.2 percent, over the same period of last year - by 8 percent.
Housing rent prices dropped by 2.9 percent from $691 on average for an apartment to $670. The figure dropped by 10.9 percent since the beginning of the year and 14.4 compared to the same period of 2009.
Rent of non-residential facilities increased by 1.2 percent from $2,486 to $2,517 per month. The figure dropped by 13.5 percent since the beginning of the year and 5.8 percent per year.