Commercial facilities decrease in price in Baku

Business Materials 27 May 2011 15:52 (UTC +04:00)

Azerbaijan, Baku, May 27 / Trend A.Akhundov /

The prices on commercial buildings in Baku decreased by 0.5 percent this month, the Participants of Property Market NGO said.

Proposals on the market increased by 2 percent. The number of purchase and sale commercial property transactions decreased by 2.4 percent in April.

Despite the processes occurring on the real estate market, this marks a stabilization of the risk level, which is linked with the strengthening of the coefficient of profitability in relation to
prices for rent.

The average price of a non-residential facility amounted to $2.904 per square meter in Baku in April.

The share of commercial buildings, proposed on the market below the average price ($2,904 per hundred sq/m) amounted to 53.7 percent of the market portfolio.

The rise in prices was observed only in the Khazar district of Baku at 0.2 percent and a significant reduction - in the Narimanov district at 1.1 percent in April.