Three new buildings sold amid primary housing cheapening in Baku in May
Azerbaijan, Baku, June 29 / Trend A. Akhundov /
In May, the prices on the housing market in Baku reduced by 0.2 percent and hit 839 manat compared to the previous month, "Property Market Participants" public organization said.
"The prices fell by 1.1 percent by early 2011, by 3.6 percent compared to the same period of last year and by 29.7 percent compared to the crisis period (September 2008)," the organization said.
The passivity, observed in the primary housing market in April, changed by relative activity in May.
In May, three new buildings in Yasamal, Nasimi and Nizami districts of Baku were withdrawn from sale. The number of built but not sold buildings and new buildings in Baku hit 434 compared to 437 in April as new buildings were not put on sale that month. The number of construction companies per month decreased from 155 to 154.
Most new buildings are built in Yasamal, Khatai and Nasimi districts.