According to the State Statistics Committee, in January-August 2011, the amount of construction works increased in Azerbaijan by 23.3 percent.
The construction works in the public sector amounted to 26.8 percent during the year, in the private sector - 73.2 percent.
Of the total construction works, 75.8 percent accounted for new construction, reconstruction and expansion, 16.2 percent - capital repair, 3.1 percent - current repair, 4.9 percent - other construction work.
Primary residential market
The prices in the primary housing market of Baku kept unchanged at 837 manat in August, the NGO Participants of Property Market reported.
"The decline in prices was at 1.3 percent compared to early 2011, and 3.2 percent compared to the same period of 2010," the report reads. The prices fell by 29.9 percent compared to the crisis period (September 2008).
The primary housing market recorded a seasonal revival and activity in August.
In August, the number of ready buildings in Baku was 428 compared to 432 and construction companies - 153 compared to 155 in July.
Most new buildings are now being built in the Yasamal district, followed by the Khatai and Nasimi districts.
In August, most of the apartments in new buildings were three-room. The average area of one-bedroom apartment in new building in August amounted to 60.7 square meters, two-room - 92.1 square meters, three-room - 131.8 square meters, four-room - 182.9 square meters and five -room 238.3 square meters.
Secondary housing market
Average price on the secondary housing market in Baku in August dropped by 0.2 percent to $981 per square meter compared to $983 in July, the NGO Property Market Participants said.
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 August, the volume of proposals on the secondary housing market increased by 0.5 percent compared to July. The number of flats proposed on the market exceeded 7,000.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in the proposal portfolio was 78.7 percent. The formation of the portfolio is linked with the entry of new buildings on to the market.
The increase in prices was not observed in any districts of Baku during a month. However, the largest decline in prices was observed in Surakhani district - 0.4 percent.
The proportion of secondary residences proposed for the market at a price lower than the average, amounted to 55.2 percent. The average room rate on the secondary market in August was 2.79, with the average price of each room at $43,480 and flat - $111,423.
The price index also fell by 1.1 points to 180.3.
The average price for 100 square meters of land decreased by 0.4 percent in August from $13,892 to $ 13,836 in Azerbaijan.
The main reason for the price decrease on Baku's land market is the sharp decline in demand.
The increase in prices was observed in no district of Baku. A slight decline in prices was recorded in the Khazar and Sabunchu districts (0.1 and 0.2 percent, respectively).
The Binagadi and Khatai districts were active on the land market. The Nasimi district was the most passive district.
The most expensive land was offered in Nasimi for $250,000 per 100 square meters, and the cheapest in the Absheron district (Pirekeshkul settlement) for $350 per 100 square meters.
About 777.5 hectares of land was proposed on the land market in Baku in Augusst. About 78.6 percent fell to empty areas and the rest to new and old residential areas.
The term of land exposition increased by 0.7 percent compared to the previous month.
During the month, the number of purchase and sale deals declined compared with July.
Market of commercial facilities
The average cost on property and rental housing for commercial purposes decreased by 0.1 percent and 0.2 percent on the non-residential facility market in Baku in August, NGO Property Market Participants reported.
The number of purchase and sale commercial property transactions decreased by 0.9 percent in August. Proposals in August increased by 1.8 percent.
"The main reason for growth in proposals is linked with an increase in the rate of return on this segment, and reducing the risks that lead to the gradual entry of new non-residential facilities to market," the report reads.
The average price of a non-residential facility amounted to $2.877 per square meter in Baku in August. According to the research, compared to the same period of 2010, the price decreased by 2 percent and by 0.8 percent compared to the previous quarter.
The share of non-residential buildings, proposed on the market below the average price ($2,877 per hundred sq/m) amounted to 52.4 percent of the market portfolio.
The price on the non-residential facilities did not increase in any districts of Baku in August The most significant decline occurred in Surakhani district - by 0.5 percent.
The non-residential areas mainly composed of private buildings and apartments on the first and second floors of buildings in August as in July.
The number of proposed non-residential areas in the market increased by 1.8 percent.
"The decline in market prices and relative decrease of the dynamics in this segment, low volume of proposal led to increased exposure time by 0.8 percent," the report reads.
In August, prices on the Baku building materials market reduced by 0.68 percent compared to July.
Prices rose by 16.7 percent compared to early 2011 and by 20.1 percent compared to the same period of last year.
The share of domestic production in total volume of construction materials made up 50.6 percent in August.
Price index reduced by 1.3 points per month and hit 186.8 points in July.
Monitoring was conducted on 38 items and 88 types of building materials.
Prices on wood in August increased by 5.66 percent. The prices on armature decreased by 2.5 percent. Prices on other building materials have slightly changed or remained unchanged.