Azerbaijan, Baku, Dec. 23 / Trend U.Ismayilova /
In November, the prices in the primary housing market of Baku fell by 0.2 percent compared to October, and by 0.5 percent the previous quarter, the NGO Participants of Property Market reported.
"The decline in prices was at 3.9 percent in November compared to early 2010, and 5.5 percent the same period last year," the NGO reported.
The price index decreased by 0.2 percent and hit 330 points compared to 331 in October.
According to monitoring carried out by specialists of the organization in the primary housing market, it was revealed that the main causes of 0.2 percent drop in prices in the market are New Year's campaign discounts, which are provided by some construction companies, as well as the lack of buyers.
A significant decline in prices occurred in the III and IV zones of Baku.
Average prices for primary housing in Baku amounted to 862 manat per square meter compared to 864 manat in October, the report said.
Passivity in the primary housing market of Baku in November also influenced the volume of sales. Only one new building was offered to the market. The number of buildings under construction in November was 433 and the number of construction companies 155. No building in the last month has been withdrawn from the sale.