Review of construction sector in Azerbaijan (Jan.-May 2012)

According to the Azerbaijani State Statistical Committee, the volume of construction work in Azerbaijan increased by 41.7 percent in January - May 2012 compared to the same period of last year.

In particular, the volume of construction work carried out by state-owned companies hit 26.1 percent of the total amount of work, while private companies - 73.9 percent.

About 74.7 percent of the total volume of construction work fall to the primary construction, reconstruction and expansion, 12.1 percent - overhaul, 2.2 percent - current repair, 11 percent - other construction work.

Total area of ​​residential buildings commissioned in Azerbaijan in January-May 2012 amounted to 545,900 square meters, or 4.8 percent more than the same period of last year.

About 110,000 square meters of housing were commissioned in May compared to 104,900 square meters in April.

The volumes of commissioned housing in Azerbaijan increased by 4.9 percent compared to the previous month and by 8.6 percent compared to May last year.

Primary residential market

According to the "Property Market Participants" public organization, prices in May decreased by 0.2 percent compared to the previous month and hit 819.9 manat per square meter.

The prices reduced by 0.5 percent compared to the previous quarter and by 2.3 percent over the same period in 2011. The prices on primary housing decreased by 31.3 percent compared to the crisis period (September 2008) and by 3.3 percent compared to early 2012.

One of 421 new buildings was taken out of the sale in May 2012. The main reason for this was the weak demand on the upper floors as last month. The number of construction companies also decreased by one and hit 150.

Most new buildings are being built in Yasamal district, followed by Nasimi and Khatai districts in Baku.

Secondary market

The average price on the secondary housing market in Baku in May 2012 increased by 0.7 percent and amounted to $990 per square meter compared to April.

In May, the volume of supply on the secondary housing market increased by 1.2 percent. The supply on the market reached 7,600 apartments.

The share of Yasamal, Nasimi, Narimanov and Khatai districts in the portfolio of supply on the market amounted to 78.7 percent. The formation of the portfolio due to these four districts for a long period is connected with new buildings built in these districts on the market.

The research shows that the portfolio is mainly formed due to these four districts on the primary market.

The share of secondary housing on the market at a price lower than the average, amounted to 53.3 percent. The average room rate in the housing proposed on the secondary market in May was 2.79, the average price on each room - $44,431, apartments - $111,479.

Building materials

The building materials market decreased by 1.05 percent in Baku in May compared to April. The prices on building materials decreased by 1 percent compared to early 2012 and by 0.8 percent compared to May 2011.

The market share of prices on local building materials hit 53.1 percent. This index continues increasing.

In May, the monitoring was conducted on 37 items and 87 varieties of building materials.

The prices decreased on the market of building materials despite the intensified sales in May due to seasonal factors.

In May, brick, gravel, wood, fittings, sand and other construction materials cheapened.

The summary table includes the building materials. The prices on these materials decreased (in percentages):

brick

-3,3

sand

-12,5

gravel

-5,6

fittings

-0,4

wood

-4,3

iron layers

-1,1

fibreboard

-2,7

zinc layers

-1,5

The summary table includes the building materials. The prices on these materials increased (in percentages):

Iron pipes

+1,2

glass

+12

brick

+1,9

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