Construction (january-november 2009)

According to the data provided by the State Statistics Committee of Azerbaijan, in January-November 2009 the amount of the construction works in Azerbaijan being carried out by the construction companies totaled AZN 2836.9mln, which is 12.2 percent less than the same period of 2008. This decrease is explained with the reduction in the work both in the private (10.3 percent) and public sectors (17.4 percent) of the economy.

Of them, AZN 1923.5mln (67.8 percent) fell on the reconstruction and expansion work, AZN 556.9mln (19.6 percent) - capital repair, AZN 123.8mln (4.4 percent) - current repair, AZN 232.7mln (8.2 percent) - other works.

During this period, the private construction companies carried out construction work in amount of 2119.6mln manat, state companies - 717.3mln manat.

According to the data provided by the Statistics State Committee, the total area of residential buildings put into use in Azerbaijan during January-November made up 1,142,400 square meters, which is 9.3 percent lower than the same period of last year. During this period, 4461.8 million manat was spent on for the construction work, which is 8.3 percent lower than in January-November 2008.

4851.9 million manat was invested in the construction of production facilities, a decrease of 17.7 percent as compared with the same period of last year. Total investments in main capital amounted to 6444.4 million manat, a decrease of 18.8 percent.

Primary housing market

In November, prices in the first housing market decreased by 3 percent and reached $928 per square meters, Participants of Property Market public organization said today

In November, the average floor rate in new buildings made up 14.9, indicators of floors- 15.1 and the average indicator of blocks - 2.4.

Summary table of room-figures of new buildings:

In November, price rise was observed in the Nizami District (0.3 percent) and the most significant price fell was observed in the Khatai district (10.8 percent).

Second housing market

Prices on the Baku secondary real estate market decreased by 2.9 percent to $1,243 per square meter in October, in November -1 percent to $1,231.

In November, the dynamics of transaction on the secondary residential market in Baku increased by 1.3 percent. The share of the first housing on the second housing market reduced by 3.2 percent to 58 percent. Offers decreased by two percent on the secondary residential market in Baku. About 6,850 apartments was proposed on the market.

Large part of the portfolio of the second market was made up by the buildings in Baku's districts of Yasamal, Nasimi, Narimanov and Khatai, which comprises 78.6 percent of the secondary housing market.

Land market

In October, average prices in the land market of Baku fell by 3 percent to $16,842. In November fell by 2.2 percent to $16,341.

In October, some 819.3 hectares of land was proposed to the market and in November - 821.1 hectares.

In October, the land exposure term increased by 1.2 percent up to 242 days and in November- 0.8 percent up to 244 days.

In November, the most significant price decrease was observed was observed in the Nasimi district of Baku- 5.4 percent. In November, as well as in October the market did not observed the price rise. The Binaqadi and Sabunchi districts of Baku were most active.

In November, the most expensive plot of land in Baku was proposed in Narimanov district of Baku, amounting to $150,000, in Absheron region for $400 per hsm.

A summary table shows the change in average prices for land in Baku in October-November:

Building materials

In October, prices in the Baku construction materials market decreased by 1.6 percent and in November - 2.2 percent.

In October, The local material construction hit 52.7 percent at the market and in November increased up to 53.9 percent.

The monitoring was held on 38 items and 91 varieties of construction materials, out of which a decrease was observed on 23 items and prices remained stable on 61. Prices increased for 7 items.

Summary table shows the change in prices in October-November:

In November, the monitoring was held on 38 items and 89 varieties of construction materials, out of which a decrease was observed on 32 items and prices remained stable on 51. Prices increased for 6 items.

Commercial facilities

In November, the prices on the market of commercial facilities of Baku increased 0.2 percent, but for rent of the commercial facilities reduced 0.2 percent.

In November, the average price declined by 12.3 per cent compared to the same period of 2008 and by 10.6 percent- early 2009.

In November, proposals on the commercial facilities market rose by 2.7 percent.