Baku, Azerbaijan, Feb. 3
By Abbas Akhundov - Trend:
Offers in the land market with Azerbaijani capital of Baku decreased during 2013. Some 738 plots were put up for sale in December against 817 in early 2013, the director general of 'MBA Group' consulting company, Nusret Ibrahimov told Trend on Feb. 3.
In the first half of 2013, proposals in the land market rose reaching 1072 in May, but then started to decline. Reduction in offers ceased in November. Ibrahimov said this situation can be explained by the onset of the construction industry's off-season months and a decrease in activity in the land market.
The expert went on to add that some 90.9 percent of plots put up for sale in December, accounted for the free areas. The rest were for non-residential areas and older residential areas.
Some 20.2 percent of new buildings were founded on territories vacated by the demolition of unfit homes, 5.5 percent on land which had industrial and domestic buildings and the rest on the newly acquired land areas. The average area of land offered for sale in December was 26.5 sq.m.
Translated by E.A.
Edited by S.M.