Prices for commercial facilities in Baku increase slightly
BAKU, Azerbaijan, March 13
By Matanat Nasibova - Trend:
A significant increase in prices for commercial facilities was observed in Baku in February 2020 compared to January 2020, Nusrat Ibrahimov, Founder and CEO of MBA Group Consulting Company told Trend.
In February 2020, the price for commercial facilities increased by 2.6 percent compared to February 2019.
On a monthly basis, the increase of this indicator amounted to 13.07 percent.
During this month, the cost of one square meter of commercial facilities amounted to 1,696 manat ($997,647). In February 2019, this indicator was at the level of 1,500 manat ($882,352). On an annualized basis, it increased by 0.3 percent.
As for the value of land, a slight increase was also observed. In February 2020, the average price of 100 square meters of land amounted to 2,888 manat ($1,698), while in February 2019 this indicator was at the level of 2,550 manat ($1,500). On an annualized basis, the increase of this indicator amounted to 1.3 percent.
Prices for private house in February 2020 decreased by 8.26 percent year on year and by 5.5 percent on a monthly basis.
A decrease in prices was also observed for country houses.
In this market segment, prices dropped by 4.5 percent in February 2020 compared to the same month of 2019, and on an annualized basis - by 0.8 percent. In February 2019, this indicator increased by 1.01 percent compared to January 2019.
In the rental sector, an increase of 1.2 percent was observed in February 2020 compared to January 2020, and on an annualized basis - up to 2.1 percent.
(1 USD = 1.7 AZN on March 12)
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