Azerbaijan, Baku, Dec. 6 / Trend U.Ismayilova /
Average price per square meter of residential area in the primary housing market of Baku decreased by 0.1 percent or 1 manat to 864 manat in October, the NGO Participants of Property Market reported.
"The decline in prices was at 0.2 percent in October compared to the beginning of the third quarter, 3.7 percent - early 2010 and 6.9 percent - the same period last year," the NGO reported.
The primary market recorded an activity and continuation of recovery, which is typical for the season.
The price index decreased by 0.1 percent in October and hit 331 points compared to 332 in September.
For the number of buildings under construction the Yasamal district ranked first (27.2 percent), Khatai - second (20.9 percent) and Nizami - third (17 percent).
Number of houses for sale increased from 439 to 442. The number of construction companies hit 155 compared to 153 in the previous month.
Summary table for price changes in the primary housing market:
|
Districts of Baku |
Residential area in manat |
Non-residential area in manat |
|
Sabayel |
1,423 |
3,535 |
|
Nasimi |
1,414 |
2,781 |
|
Narimanov |
1,310 |
3,266 |
|
Yasamal |
955 |
3,158 |
|
Khatai |
712 |
2,668 |
|
Nizami |
679 |
1,952 |
|
Binagadi |
671 |
2,365 |
|
Sabunchu |
562 |
1,750 |
|
Surakhani |
487 |
1,355 |
|
Garadag |
424 |
1,200 |
|
Average price |
864 |
2403 |
The official exchange rate is 0.7995 manat to $6 Dec. 6.