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Price Increase Observed for Apartments in Newly Constructed Buildings in Baku

Business Materials 9 June 2007 12:37 (UTC +04:00)

Azerbaijan, Baku / corr. Trend U.Ismaylova / In May the average price for the apartments in newly constructed buildings in Baku amounted to $1002 for one square meter and the index increase for the month equaled 0.8%, public union Participants of Real Estate Market informs. The increase occurred not due to demand, but inflation of expenses.

In May the reduction of the portfolio of proposals was observed in the first real estate market in Baku. The construction works were ceased or limited in several buildings. In May the share of the newly constructed buildings in the pack of proposals of the real estate market equaled 14.8%.

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