Azerbaijan, Baku, Dec. 6 / Trend U.Ismayilova /
The rental prices on non-residential facilities in Baku fell by 0.5 percent in October. Meanwhile, the rental prices on commercial buildings remain unchanged, the Participants of the Real Estate Market public organization reported.
The number of commercial property purchase and sale transactions fell by 2.5 percent. The number of proposals increased by 1.3 percent.
Despite the increase in market prices, low demand led to an increase in exposure time, which increases the risk level for such properties.
The average price per square meter of non-residential property dropped from $2,973 in September to $2,958 in October.
Prices increased by 0.5 percent compared to the second quarter and declined by 1.3 percent compared to October 2009.
The table indicates the changes in commercial property prices:
|
City zones |
Average prices in $ in October |
Price change in $ |
|
I |
4,881 |
Stable |
|
II |
3,477 |
0.5 |
|
III |
2,140 |
-0.8 |
|
IV |
802 |
1 |