Experts States Increase Prices for Newly-Erected Building in Baku in May
Azerbaijan, Baku / corr. Trend U.Ismailova / The public 'Participants of the Real Estate Market' organization reported that the average price for one cu m in a newly-erected building in Baku in May increased by 0,8% and came to $1,002.
The number of buildings under construction during May decreased to 491. The total number of construction companies for this period totalled 223, the average number of stories per building is 15.2 and the real estate index increased by three points to 379,8%.
There was an observed increase in apartment prices in the Nasimi and Nariman districts of the city.
One- or two-room apartments in the centre of Baku numbered more than four- or five-room apartments.
During the last few months, prices for three-, four-, and five-room apartments increased. Their increase is a result of their proximity to the centre of Baku City.