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Prices on rental spots in Baku drops

Business Materials 17 July 2020 17:14
Prices on rental spots in Baku drops

BAKU, Azerbaijan, July 17

By Matanat Nasibova – Trend:

A slight increase by 2.8 percent in prices for commercial objects was recorded in Baku in June 2020, compared to May 2020, director of MBA Group consulting company Nusret Ibrahimov told Trend.

The cost of one square meter of the area of commercial objects in June 2020 was $1,790.

As for the cost of land plots, there was also a slight increase. In June this year, the average price of 100 square meters of land amounted to $22,700.

In annual terms, the growth of this indicator was 19.7 percent, while in monthly terms it increased by 15.7 percent.

Prices of private houses rose by 3.7 percent in June 2020, and by 3.1 percent year-on-year.

Moreover, increase in the prices of summer houses was recorded as well. In this segment of the market, prices rose by 1.6 percent in June 2020 compared to the same month 2019, and by 0.1 percent year-on-year.

In total, rental spots in Azerbaijan increased in prices by 1.9 percent in June 2020, compared to May 2020. Compared to June 2019, the figure increased by 4.4 percent.

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