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Prices on Azerbaijani secondary housing market decline

Business Materials 18 May 2011 17:33

Azerbaijan, Baku, May 18 / Trend A.Akhundov /

Prices on the secondary housing market in Baku decreased by 1.8 percent to $1,296 per square meter in April, MBA Group CEO Nusret Ibrahimov said.

Prices on the secondary housing fell by 1.8 percent compared to early 2011 and by 2.6 percent compared to the same period 2010.

He said prices on the primary housing market rose by 1.3 percent in April to $826 per square meter. The figure rose by 0.2 percent compared to early 2011 and by 1.5 percent compared to the same period
of 2010.

Prices in the commercial facilities market rose by 3 percent in April up to $3,203 per square meter. The figure fell by 3.9 percent compared to early 2011 and by 3.5 percent compared to the same period of 2010.

Baku's land market went up slightly in price by 0.3 percent to $18,510 per hundred square meters.

The housing rents rose by 2 percent to $676 for an apartment. The figure grew by 0.1 percent compared to early 2011 and fell by 2 percent compared to the same period of 2010.

The non-residential facilities rents fell by 5.1 percent to $19.4 per square meter. The figure fell by 6.1 percent compared to early 2011 and by 8.3 percent compared to the same period of 2010.

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