According to the State Statistics Committee, in January-November 2011, the amount of construction work increased in Azerbaijan by 29.1 percent compared to the corresponding period of last year.
Of the total construction work, 76.3 percent accounted for new construction, reconstruction and expansion, 16.3 percent - capital repair, 2.9 percent - current repair, 4.5 percent - other construction work.
During the reporting period, 25.2 percent of the work was carried out by private, 74.8 percent - by state companies.
The number of commissioned housing in Azerbaijan reduced by 2.14 times in November 2011 compared to October. The fall continues for 2 consecutive months. Totally, it has already reached 3.62 times. About 72,900 square meters of housing were commissioned in November compared to 155,700 square meters in October, 263,800 square meters in September, 69,800 square meters in August.
Primary residential market
According to the Property Market Participants public organization, the prices on the housing market in Baku in November declined by 1.1 percent to 827.7 manat per square meter compared to the previous month.
The prices reduced by 2.4 percent by the beginning of the year and by 2.4 percent over the same period of last year. The prices decreased by 30.7 per cent compared to the crisis period (September 2008).
The index of prices decreased by 3.6 points - up to 317.1 points in November.
The relative activity fixed in previous months preserved in the primary market in November.
In November, the number of built but not sold, as well as new buildings in Baku was 424 as last month. The number of construction companies also does not change and amounted to 152.
Like the previous month, in November most of the apartments in new buildings were three-room.
The average area of one-room apartment in new building in November 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 market
The average price on the secondary market in Baku declined in November by 0.6 percent to $959 per square meter compared to $965 in October.
In November, as compared to October, the volume of proposal on the secondary housing market increased 1.4 percent, the average price, in turn, decreased by 0.6 percent.
The share of Yasamal, Nizami, Narimanov and Khatai districts in the portfolio of supply on the market amounted to 78.7 per cent. The formation of the portfolio for a long time due to these four districts is related to the appearance of new buildings in these districts.
The increase in prices on the secondary housing market was not observed in any of the districts in Baku during a month. The biggest decline in prices was observed in Surakhani district - 1.4 percent.
The proportion of secondary residences proposed for the market at a price lower than the average, amounted to 53.6 percent. The average room rate on the secondary market in November was 2.78, with the average price of each room at $43,297 and flat - $111,163.
The price index also fell by 1.1 points to 175.9.
The dynamics of the purchase and sale transactions increased by 0.7 percent.
Land market
According to the "Property Market Participants" public organization, the average price of one hundred square meters in Baku in November increased by 0.6 percent - from $13,462 to $13,548.
This is mainly connected with the increase in prices in the first and second zones of the city, that is, the central districts and areas close to the center.
In November, the most significant increase in prices was observed in Garadagh district (1.1 percent), but reduction - in Khatai district (0.8 percent).
Yasamal and Khatai districts were the most active on the land market. The most passive was Nasimi district.
In November, the most expensive land plot was offered for sale in Nasimi district at a price of $350,000 per one hundred square meters (a place near the tea factory), and the cheapest one was offered for sale in Absheron district - in settlement Pirekeshkul - at a price of $350 per one hundred square meters.
In November, Baku's land market offered for sale 763,7 land hectares, of which 79.3 percent were empty plots and the rest were uninhabited and old inhabited plots. The term of land exposition on the market rose by 0.4 percent compared to the previous month.
Commercial facilities
In November, the average cost of the property and rental housing used for commercial purposes reduced by 0.2 percent and 0.3 percent per month on the market of non-residential facilities in Baku.
According to the information, the number of transactions on purchase and sale of commercial properties reduced by 5.7 percent in November. The supply reduced by 1.8 percent in November.
The average price of a non-residential facility amounted to $2.860 per square meter in Baku in November compared to $2,865 the previous month.
According to the studies, the prices decreased by 1.4 percent compared to the same period of 2010 and by 0.6 percent compared to the previous quarter.
The share of non-residential facilities offered to the market less than the average price ($2,860 per square meter), hit 53.2 per cent of the total market portfolio of non-residential plots.
The increase in prices on non-residential facilities was observed only in Garadagh district of Baku - by 0.4 percent, the biggest decline occurred in Khazar district of Baku - by 1 percent.
The non-residential plots, mainly consisted of private buildings and apartments on the first and second floors of the new buildings and apartments on the first floor of the secondary housing in November 2011 compared to the previous month. The purpose of the apartments on the first floor of the secondary housing has been changed.
"The decline in prices on the market and the relative decrease of the dynamics in this segment, the low volume of supply led to an increase in exposure period by 1.6 percent," the experts of the organization said.
In November, the price index in Baku declined by 1.2 percent, compared to the corresponding period of last year, and 0.6 percent, compared to the previous quarter. The price index for commercial facilities declined by 0.2 percent compared to October, or 0.6 points - up to 282.3 points.
According to the "Property Market Participants" public organization, the prices on the building material market of Baku reduced by 2.67 percent in November compared to October.
Building materials
According to the Property Market Participants public organization, in November, prices on the Baku building materials market decreased by 2.67 percent compared to October.
Prices rose by 16.2 percent compared to early 2011 and by 19.1 percent compared to the same period of last year.
The share of domestic production in total volume of construction materials made up 52 percent in September. Monitoring was conducted on 38 items and 88 types of building materials.
The decrease in prices mainly on imported goods can be connected with the relative weakening of the consumer mass by the end of the year. Buyer's passivity is associated with seasonal factors. This led to an abundance of materials on the market, and had an impact on the decline in prices.
The summary table shows the construction materials. The prices on these materials increased (in percent):
|
wood-shaving |
+16,3 |
square |
+1,4 |
|
fibreboard |
+20,0 |
channel |
+2,2 |
|
Emery stone |
-0,8 |
Iron pipes |
-2,9 |
|
sand |
-4,1 |
Iron layers |
-5,9 |
|
macadam |
-12,5 |
Zinc layers |
-3,3 |
|
wood |
-2,2 |
Rolled wire |
-12,5 |
|
slate |
-0,9 |
glass |
-0,4 |
|
isolation |
-15,0 |
The summary table shows the construction materials. The prices on these materials reduced (in percent):
Prices on other building materials remained stable.