BAKU, Azerbaijan, Oct. 27
By Fidan Babayeva - Trend:
Prices for land plots in Baku grew by 12.46 percent in September 2020 compared to the same month of 2019, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend.
According to him, on a monthly basis, this figure declined by 2.73 percent.
In the reporting month, the price of commercial facilities was 3.19 percent more than in September of last year.
The value of one square meter of the area of commercial objects amounted to 2,880 manat ($1,690), decreasing by 2.58 percent compared to August 2020, the director said.
As for the prices for summer cottages and private houses in September 2020, there was a recorded edge-up in this market segment by 5.99 percent compared to the previous month, and a decline of 9.85 percent compared to September of last year.
Meanwhile, the average price of rental objects in Baku shrank by 2.91 percent compared to August 2020 and by 7.69 percent compared to September 2019.
As Ibrahimov earlier noted, due to the coronavirus pandemic, a number of trade and service sectors suspended their activities, and therefore the leased premises were returned, which led to an increase in offers on the rental market and a decrease in prices and such price changes in the market are seasonal.
(1 USD = 1.7 AZN on Oct.27)
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