Review of construction sector in Azerbaijan (January-May 2011)

According to the State Statistics Committee, in January-May 2011, the amount of construction works increased in Azerbaijan by 20.5 percent.

The construction works in the public sector amounted to 30.2 percent during the year, in the private sector -69.8 percent.

Of the total construction works, 74.4 percent accounted for new construction, reconstruction and expansion, 16.6 percent - capital repair, 3.2 percent - current repair, 5.8 percent - other construction work

First residential market

In May, the prices on the housing market in Baku reduced by 0.2 percent and hit 839 manat compared to the previous month.

"The prices fell by 1.1 percent by early 2011, by 3.6 percent compared to the same period of last year and by 29.7 percent compared to the crisis period (September 2008)," the organization said.

The passivity, observed in the primary housing market in April, changed by relative activity in May.

In May, three new buildings in Yasamal, Nasimi and Nizami districts of Baku were withdrawn from sale. The number of built but not sold buildings and new buildings in Baku hit 434 compared to 437 in April as new buildings were not put on sale that month. The number of construction companies per month decreased from 155 to 154.

Most new buildings are built in Yasamal, Khatai and Nasimi districts.

Secondary residential market

Average prices on the secondary housing market in Baku in May dropped by 1.3 percent to $1,000 per square meter compared to $1,013 in April.

Processes occurring on the market negatively affected the pace of housing construction resulting in limited rehabilitation opportunities, and turnover of new buildings.

This, in turn, led to lower prices of new buildings entering the secondary market. In May, the volume of proposals on the secondary housing market increased by 0.9 percent compared to April.

The prices decreased in the Sabunchu district of Baku, the report said.

The proportion of secondary residences proposed for the market at a price lower than the average, amounted to 56.5 percent.
The average room rate on the secondary market in May was 2.74, with the average price of each room at $43,651 and house - $ 111,656.
The price index also fell by 2.6 points to 183.6. Proposals on the market increased by 0.9 percent. Roughly 6,900 flats were proposed on the market.
The dynamics of the purchase and sale transactions decreased by 1.6 percent.

The most attractive areas in the secondary housing market of Baku were Khatai and Yasamal. In general, the bulk of operations in the mortgage process fell to these districts.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in the proposal portfolio was 79.1 percent. The formation of the portfolio is linked with the entry of new buildings on to the market.

Land market

The average price for 100 square meters of land decreased by 0.4 percent in May from $14,096 to $14,035in Azerbaijan, NGO Property Market Participants said.
The main reason for the price decrease on Baku's land market is the sharp decline in demand,

Price decline were observed in all zones of the city. Along with this, in May, the rise in prices was observed in Garadagh and Khazar districts - by 0.1 percent.
The most considerable decline was recorded in the Sabunchi district - by 0.4 percent. The most active districts in the land market were Binagadi and Khatai. The most passive was Nasimi district.

The most expensive land was offered in Nasimi near Europe Hotel for $210,000 per 100 square meters, and the cheapest in the Pirekeshkul settlement in Absheron for $350 per 100 square meters.

About 776.1hectares of land was proposed on the land market in Baku in May. About 78.6 percent fell to empty areas and the rest to new and old residential areas.
The term of land exposition increased by 1.1 percent compared to the previous month.

Commercial facilities market

The average cost of the property and the cost of rental housing used for commercial purposes decreased by 0.3 percent and 0.1 percent respectively on the market of non-residential facilities in Baku in May.

Proposals on the market increased by 2.3 percent. The number of purchase and sale commercial property transactions increased by 3.6 percent in May.

Despite the processes occurring on the real estate market, this marks a stabilization of the risk level, which is linked with the strengthening of the coefficient of profitability in relation to prices for rent.

According to the research, the price for the same period of 2010 decreased by 1.8 percent, but increased by 0.9 percent compared to the previous quarter.
The average price of a non-residential facility amounted to $2.896 per square meter in Baku in May.

The share of non-residential buildings, proposed on the market below the average price ($2,896 per hundred sq/m) amounted to 52.1 percent of the market portfolio.

The price on the non-residential facilities did not increase in any districts of Baku in May. The most significant decline occurred in Sabunchu and Surakhani districts - by 0.4 percent.

The non-residential areas mainly composed of private buildings and apartments on the first and second floors of buildings in May 2011.

Building materials

In May, prices on the Baku building materials market increased by 0. 87 percent compared to April.

Prices rose by 1 4.4 percent compared to early 2011 and by 21.8 percent compared to the same period of last year.

Market share of domestic materials in the total portfolio value exceeded the share of imported goods in the 1.16 -fold in May.

Monitoring was conducted on 38 items and 88 types of building materials.

According to conducted studies, relative market activization was observed on the building materials market, which is typical for this season.

In February, the market observed a n increase in price o n different building materials. The same situation was observed in May.

"Basically , there was an increase in price of paint products. The prices increased by 10-15 percent compared to April. Local manufacturers attribute this to the rise in price on chemical products imported into the country and used in the production of (titanium, alkyd, tutkal) in the world markets."

The summary table shows the construction material prices, which declined (in percentage):

Sawn stone


Zinc layers








The summary table shows prices increase on the construction materials (in percentage):





Road metal


Roofing slate




Finishing material


Iron layers


Prices for other construction materials remained stable.

National Bank of Georgia talks decrease in export of goods
National Bank of Georgia talks decrease in export of goods
Georgia's international reserves up
Georgia's international reserves up
Georgia supports people losing jobs amid COVID-19 crisis
Georgia supports people losing jobs amid COVID-19 crisis
Loading Bars
Sign here first: U.S. salons, gyms, offices require coronavirus waivers
Embraer says China, India are potential partners after failed Boeing deal
Dmitry Pankin: BSTDB is able to redirect additional funds to help SMEs amid COVID-19
Azerbaijan's Azercosmos expands satellite services export
Turkey's export to OIC member states shrinks
Turkish BOTAS discloses volume of oil shipment from Ceyhan terminal
Volume of cargo transshipment from Portugal via Turkish ports disclosed
Turkey's export to BSEC countries from Jan. through Apr. 2020 slips
National Bank of Georgia talks decrease in export of goods
Turkish Petroleum Corporation appeals to ministry to extend license
Turkmenistan launches new project to support startups
Industrial products prices drop in Kazakhstan
Azerbaijan reports 168 new COVID-19 cases
Gas production by Shah Deniz since 2006 disclosed
Cargo transshipment data via Turkey's BOTAS port revealed
Georgia's international reserves up
Uzbekistan eyes setting up national freelancer center
Central Bank: Azerbaijan expects further decrease in inflation
Turkish ministry discloses data on cargo transshipment via Izmir port
Cargo transshipment via Turkish Ambarli port from Jan. through Apr. 2020 disclosed
Data on payment cards issuance in Kazakhstan revealed
Value of insurance fees in Azerbaijani market from Jan. through Apr. 2020 disclosed
Food safety certificates turn to electronic format in Azerbaijan
Azeri-Chirag-Gunashli: BP reveals oil output volume since 1997
Azerbaijan discloses data on payments in insurance market from Jan. through Apr. 2020
Georgia supports people losing jobs amid COVID-19 crisis
Uzbekistan organizes more charter flights to bring citizens back
Kaspersky providing advanced cybersecurity to Azerbaijani companies amid COVID-19
Iran resumes fuel shipment to Venezuela
Dutch bar terraces fill quickly as lockdown ends
Nasdaq postpones Philadelphia trading floor reopening due to protests
Shipping locks overhaul underway in Kazakhstan to minimize accidents risks
Azerbaijani Central Bank discloses volume of restructured loans
Central Bank: Situation in Azerbaijan's financial sector is satisfactory
Iran's Fars Province to increase wheat production
South Korean Samdong plans to create solid waste recycling cluster in Uzbekistan
JP Morgan: Minimal oil production shut-ins to remain in place through September
Restaurants, malls reopen in Georgia
Uzbekistan supports non-governmental medical organizations
Switzerland’s EuroChem Group AG increases ore output in Kazakhstan
Uzbekistan prepares to launch new resort zone
National Statistics Office of Georgia changes unemployment measurement methodology
Fiat ahead of Volkswagen, Renault in sales on Turkey's car market
Azerbaijan's State Oil Fund discloses amount of funds sold at foreign exchange auctions
Azerbaijan Micro-finance Association talks supporting women's entrepreneurship
Turkey-Turkmenistan trade turnover grows
Imports of goods from China to Georgia down
Spring field work completed in some Kazakh regions
Uzbekistan takes additional steps to join World Trade Organization
Bulgaria updates on construction of Balkan Stream
Turkmenistan, Iran review construction of disinfection facilities on border
Cargo transshipment through Turkish Tekirdagh port revealed
One of Uzbekistan's biggest refineries eyes to halt RON-80 fuel production
Kazakhstan reconsiders recommended rates on deposits in national currency
Azerbaijan discloses amount of debts due from liquidated banks
Weekly review of Azerbaijan's precious metals market (May 22-29)
UNDP in Turkmenistan opens tender for lab equipment procurement
Belarus raises export duties for oil, oil products
Azerbaijani PMD Group's major construction project nearing completion
Weekly review of Azerbaijani currency market (May 22-29)
Another company gets geological exploration license in Kazakhstan
Georgian wine export to China declines
Azerbaijan to apply new transport rules for intercity buses
UNICEF Uzbekistan opens tender for development of intranet
Kazakhstan's economy slowdown to significantly weaken banks' asset quality, performance
Iran reveals fuel production by IRGC-owned refineries
Black boxes from crashed Pakistan jet head to France for analysis
Buffett-backed BYD to supply EV batteries to Ford
Right to learn for every child (PHOTO/VIDEO)
Iran's Khatam Al-Anbiya construction headquarters talks its railway projects
Refinery operators need three steps to stay alive amid COVID-19
Iran to implement more control over car sales and production
Iran likely to begin paying loans to businesses
TOP-8 Turkish LPG importing companies disclosed
Turkey's import of LPG from US nearly doubles
UNDP in Turkmenistan to buy chemicals via tender
UNDP in Turkmenistan opens tender for website design
Uzbekistan slows down inflation
New bus terminal to be built in Turkmenistan’s Dashoguz region
Kazakhstan’s KazMunayGas reduces expenditures within anticrisis measures
Iran reveals its COVID-19 data for June 1
Kazakhstan Aviation Industry to launch unmanned aerial vehicles production
Emirates could take four years to resume flying to entire network
OPEC, Russia discuss extending oil cuts for 1-2 months
Britain reopens markets and some schools as lockdown eases
Azerbaijani Bank Respublika's shareholder composition changes (PHOTO)
Georgia's foreign exchange reserves decline
Trade turnover between Turkey, France declines
Baku's industrial production volume from Jan. through Apr. 2020 disclosed
ADB study maps supply chains for key products in COVID-19 response
SOCAR's Turkish subsidiary discloses sales volume
Geostat reveals TOP 10 goods exported from Georgia to Azerbaijan
Videoconference initiated by ADB held between Azerbaijani president and bank’s senior executives PHOTO)
Georgia implements new hotel complex project
Azerbaijan reveals data on Baku's trade turnover for 1Q2020
Uzbekistan holds talks with European media platform to promote its goods
Azerbaijan sees growth in electrical equipment production
Georgian flour producer to export its products to Greece, other Balkan states
Review of data on construction work in Baku from Jan. through Apr. 2020
Food prices in Uzbekistan increase
All news