Caspian Property Services, an Azerbaijan appraisal company, has summed up the results of the real estate market in Baku City in 2006, Trend reports quoting a message spread by the Company.
The construction of 578 block of flats were carried out in 2006. The total square under the construction in the City was 71,1 thousand square meters, the living space - 822,7 thousand square meters, non-living space - 91,1 thousand square meters. The number of companies engaged in the construction of the block of flats reached 237 ones. The average height of the buildings constructed is 15,2 storeys.
On average, the growth of prices on accommodation in the Baku City Centre in 2006 reached 30,6% (up to $688 per 1 square meter) versus 2005.
As compared with 2005, the prices in Baku City Districts in 2006 increased simultaneously and reached:
|
Districts of Baku City |
Growth in 2006 in % to 2005 2006 in % to 2005 |
Average Cost in District (per 1 square meter) |
|
Binagadi |
30,6 |
727 |
|
Narimanov |
24,9 |
727 |
|
Nasimi |
29,9 |
994 |
|
Nizami |
29,8 |
484 |
|
Garadagh |
26 |
378 |
|
Sabunchu |
27,3 |
382 |
|
Sabayil |
30,9 |
856 |
|
Surakhani |
30,2 |
440 |
|
Khatai |
30,1 |
467 |
|
Yasamal |
30,6 |
688 |