Prices for commercial facilities, land plots increase in Baku
Baku, Azerbaijan, May 28
By Matanat Nasibova - Trend:
In April 2019, prices for commercial facilities increased in Baku, Nusret Ibrahimov, real estate expert and Director General of the consulting company MBA Group, told Trend.
According to the expert, in April 2019, prices for commercial facilities in Baku increased by 2.51 percent compared to the same month last year.
"So, in April 2018, one square meter of commercial facilities was sold at the price of 2,637 manats, but in April 2019, this figure increased to 2,703 manats," Ibrahimov said.
According to expert's estimates, there has also been an increase in the cost of land plots.
"In April 2018, the average price for hundred square meters of land was 21,502 manats, but in April 2019, it increased by 4.48 percent to 22,466 manats. At the same time, prices for low-rise buildings in April 2019 decreased by 1.2 percent compared to the previous month and increased by 4.9 percent compared to the same period of 2018," he added.
The expert noted that a slight increase was observed in the prices of summer houses.
"In April 2019, prices in this market segment rose by 1.2 percent compared to March 2019, and by 2.3 percent compared to 2018," Ibrahimov added.
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