BAKU, Azerbaijan, Apr.20
By Fidan Babayeva - Trend:
Prices for summer cottages and private houses in Azerbaijan’s Baku city had increased by 1.25 percent in March 2021 compared to February 2021, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend.
In the reporting month, the average price for one square meter of summer cottages and private houses amounted to 971 manat ($571.1), Ibrahimov said.
According to Ibrahimov, the cost of one square meter of commercial premises in the secondary market decreased by 2.51 percent over the month.
"At the same time, prices for land plots had also increased. In this segment of the market, in March 2021, prices increased by 4.42 percent compared to February, amounting to 20,719 manat ($12,187) per hundred square meters," said the expert.
In March 2021, the average cost of renting objects in Baku decreased by 1.12 percent compared to February, amounting to 15.3 manat ($9) per square meter, he noted.
"Due to the COVID-19 pandemic, a number of trade and service sectors suspended their activities and the rented premises were returned to the owners, which led to an increase in the supply of rental space on the market and a decrease in prices. But such a change in prices on the market is seasonal," said Ibrahimov.
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