Construction sector ( january - july 2009 )

According to the data provided by the State Statistics Committee of Azerbaijan, in January-July 2009 the amount of the construction works in Azerbaijan being carried out by the construction companies totaled AZN 1.679bln.

Of them, AZN 1129.1mln (67.3 percent) fell on the reconstruction and expansion work, AZN 349.1mln (20.8 percent) - capital repair, AZN 84.5mln (5 percent) - current repair, AZN 116.3mln (6.9 percent) - other works.

During this period, construction work totaling 1218.1 billion manat was done by private construction companies, 460.9 million manat - state companies.

The monitoring revealed that as of the end of July, 177 construction companies built 484 new buildings in Baku.

The Governmental Committee in Architecture and Town-Planning of Azerbaijan stopped activity of license for 12 legal entities from August 1 due to inobservance of conditions and demands of licensing.

As said in governmental message, the folloving juridical persons deprived from the license: Ata inshaat, Ziyaddinoglu , Inkishaf-L&V Inshaat , YL Inshaat LTD, Erenport Inshaat Sanayi and Ticaret Anonim Shirketi, building firm Shinkar, Fusal-F , AZTEG, Studio Inter Dizayn, Shirvan-S, Stil Muhandislik, Azeri.

First housing market

According to the data provided by the pubic organization Participants of Real Estate Market, in July the average prices fell 0.3% to $944 per sq.m on the first housing market of Baku as compared to $947 in June.

In July, construction of 488 buildings was continued by 173 construction companies.

The average room rate of the area of flats in July fell 0.3 percent to 122 sq.m, the average blocks were 2.3, floors - 15.

Summary table of indicators of rooms in newly constructed buildings and their area:

Apartments

Number of apartments

Average indicator of area

Share in construction in percent

One-room

12006

60,8

17,7

Two-room

20855

93,2

30,7

Three-room

26142

133,2

38,5

Four-room

7885

183,5

11,6

Five-room

973

253,6

1,4

The average area of apartments in new buildings of Baku in April rose by 0.4 percent - up to 121.7 sq.m.

Second housing market

In July 2009 the average prices on the market increased 0.8% to $1,345 per sq.m compared to $1,334 in June. The average price of apartments in July amounted to an average of $120,400 (-4.9 percent compared to June), average price of the room - $47,770  (-6.8 percent). The average room rate in July was 2.52 (+2 percent).

The share of apartments offered on the market below the average price amounted to 59.7 percent compared to 62.4 percent in June. The most significant increase in average prices was observed in Yasamal district of Baku, 2.4 percent.

The dynamics of concluding sale-purchase deals on the secondary market increased 19.2 percent. Proposals on the market grew 32 percent.

The exposition period of the property decreased six days to 105 days. Ratio of income in July increased 3.9 percent.

Land market

In July the most expensive land plot was offered in Nasimi district of Baku ($220,000 per one hundred sq.m) and the cheapest in Sabunchu district of Baku ($350 per one hundred sq.m), public organization Participants of Real Estate Market said. 

The average price for one hundred sq.m of land in Baku reduced 4.1 percent to $18,800 compared to $19,600 in June. The period of exposition of the land plots rose 2.1 percent to 234 days. A considerable drop in prices was observed in the Surakhani District of Baku - 9.3 percent.

Summary table indicates price changes for land plots in zones of Baku:

Zone of city

Price per one hundred sq.m (in $)

Average price change (in %)

I

202106

-1,5

II

118765

-1,1

III

25110

-4,7

IV

5042

-5,8

Market of commercial facilities  

In July 2009, price on a square meter of non-residential premises declined by 0.3 percent, renting of non-residential facilities by 1.3 percent, public organization Real Estate Market Participants said.

Average price per square meter of commercial facility in Baku declined last month to $3,019 compared to $3,011 in June. According to the results of monitoring conducted by the organization, the prices fell 2.9 percent compared to the previous quarter, and 16.8 percent compared to the same period of last year.

Drop in prices of commercial properties was observed in all districts of Baku, except Garadagh where a 2-percent increase was occurred due to beginning of a giant trade' centre's activity in this territory. Reduction in Azizbeyov district was 0.6 percent, Nasimi - 0.6 percent and Binagadi - 8.5 percent.

Proposals in the market of commercial facilities in the last month rose by 1.7 percent. The term of exposition of non-residential facilities increased by 2.9 percent, respectively, led to increased levels of risk in this segment of market.

Market of building materials

The average price of construction materials on the Baku market decreased 2.7 percent in July, the public organization Participants of Real Estate said. The prices fell by 6.9 percent since the start of the year and by 46.7 percent compared to the same period of 2008.

The monitoring was held on 38 items and 87 varieties of construction materials, out of which a decrease was observed on 13 items and prices remained stable on 55. Prices increased for 18 items.

The percentage of construction materials on the market which were produced domestically was 52.9 percent in July

Building material

June, in manat

-/+ in percentage

July, in manat

Trees (Russian)

185

-8,1

170

Crushed stone

17

-5,9

16

Zinc layers

5,80

6,9

6,2

Fixtures (in ton)

507

-3,4

490

According to data provided by the State Statistics Committee, in the second quarter, the price index of construction materials in Azerbaijan dropped 0.2 percent compared to the first quarter of 2009, 3.1 percent compared to the same period of last year. The price index of residential buildings also declined in this period by 2 percent (2.3 percent compared to the same period of last year).

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