Prices for commercial properties, land plots rise in Baku
BAKU, Azerbaijan, Dec. 26
By Matanat Nasibova - Trend:
In November 2019, there was a slight increase in prices for commercial properties in Baku, compared to October, Director of the MBA Group consulting company Nusrat Ibrahimov told Trend.
“In the reporting month, the cost of one square meter of commercial properties amounted to $1,593,” Ibrahimov noted. “In the same month last year, this indicator was at $1,573. On an annualized basis, it increased by 0.2 percent.”
“As for the prices of land plots, a slight increase was also observed in this market segment,” said the director. “In November 2019, the average price per 100 square meters of land was $1,322, while in the reporting month of the last year, this figure was at $1,319.”
Private house prices in November 2019 decreased by 0.9 percent compared to the previous month, and by 0.7 percent year on year, Ibrahimov noted.
“A slight decrease in prices was also observed for country houses,” he added. “In this market segment in November 2019 compared to the same month last year, prices decreased by 0.6 percent, and by 1.1 percent during the year.”
In the rental sector, in November 2019 compared with the previous month, an increase of 1.2 percent was observed, and up to 2.3 percent growth on an annualized basis, Ibrahimov said.