Azerbaijan , Baku, April 27 / Trend A.Akhundov /
The average price for 100 square meters of land decreased by 0.8 percent from $14,310 to $14, 227 in Azerbaijan in March, NGO Property Market Participants said.
The main reason for the price decrease on Baku's land market is the sharp decline in demand , the report said .
The summary table shows the change in prices in the zones of the city:
|
Zones |
Prices in $/ hundred square meters |
Changes in average prices in % |
|
I |
171 ,760 |
-0 .1 |
|
II |
96 ,530 |
-0 .2 |
|
III |
18 ,733 |
-0 .5 |
|
IV |
3 ,477 |
-0 .7 |
The price increase was observed mainly in the Garadag district of Baku - by 0.6 percent, Surakhani - 0.9 percent. The most active districts in the land market were Binagadi and Khatai. The most passive was Na rimanov.
The most expensive land was offered in Nasimi for $220,000 per 100 square meters, and the cheapest in Absheron for $350 per 100 square meters
About 777.1 hectares of land was proposed on the land market in Baku in March. About 78.4 percent fell to empty lots and the rest to new and old residential areas.
The term of land exposition increased by 0.8 percent compared to February 2011.