Azerbaijan, Baku, Dec. 28 / Trend U.Ismayilova /
In November, prices for commercial buildings in Baku decreased by 1.1 percent, rent of commercial buildings - by 0.4 percent compared to October, the public organization "Participants of property market" said.
Proposals on the market increased by 3 percent. Despite the decline in market prices, low demand affected the increase in exposure time, which increases the risk level for this type of property.
The average price of a non-residential facility amounted to $2.958 in Baku in October compared to $2,925 per square meter in November.
Prices declined by 0.4 percent compared to the third quarter and by 2.2 percent compared to November last year.
The share of commercial buildings, proposed on the market below the average price ($2,925 per hundred sq/m) amounted to 50.4 percent of the market portfolio.
The summary table shows the change in prices for commercial properties in the zones of the city:
|
Zones of the city |
Average prices in November, $ |
Changes in prices, in% |
|
I |
4.870 |
-0.2 |
|
II |
3.482 |
-0.4 |
|
III |
2.153 |
-0.2 |
|
IV |
791 |
-0.5 |