BAKU, Azerbaijan, Aug.22
By Nargiz Ismayilova - Trend:
The prices for commercial facilities in Azerbaijan’s capital Baku rose by 9.28 percent in July 2020 compared to the previous month, Director General of the MBA Consulting Group company Nusrat Ibrahimov told Trend.
The price of one square meter of commercial facilities in the reporting month amounted to 3,063 manat ($1,801), Ibrahimov added.
As for the value of land, a decrease was observed in this market segment. In July this year, the average price of 100 square meters of land amounted to $22,853, down by 8.16 percent compared to June.
Meanwhile, a slight growth was recorded in the prices for country and private houses. In this market segment, prices rose by 0.77 percent up to 784 manat ($461.1) over the month.
The prices for rental housing in July went down by 5.38 percent, amounting to 3,097 manat ($1,821).
Due to the COVID-19 pandemic, a number of trade and service sectors suspended their activities, due to which the rented premises were returned, leading to increased supply on the rental market and declined prices. This price change in the market is seasonal, the expert noted.
(1 USD = 1.7 manat on Aug.22)
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