According to the Azerbaijani State Statistical Committee, the volumes of commissioned housing in Azerbaijan increased by 2.28 percent in June compared to the previous month and decreased by 8.6 percent compared to June last year.
About 250,800 square meters of housing were commissioned in June compared to 110,000 square meters in May and 317,700 square meters in June 2011.
Total area of residential buildings commissioned in Azerbaijan in January-June 2012 amounted to 796,700 square meters compared to 838,800 square meters a year ago (a decrease of 5 percent).
Primary residential market
According to the "Property Market Participants" public organization, prices in June decreased by 1.2 percent compared to the previous month and hit 810.4 manat per square meter.
The prices decreased by 1.3 percent compared to the previous quarter and by 3.2 percent over the same period in 2011.
The prices on primary housing decreased by 32.1 percent compared to the crisis period (September 2008) and by 4.4 percent compared to early 2012.
As in the previous month, 420 buildings was put on sale in June. Most of the buildings were social buildings, construction of which occurred in the fourth zone. The number of construction companies remained unchanged at 150.
Most new buildings are being built in Yasamal district, followed by Khatai and Nasimi districts in Baku.
Secondary market
The average price on the secondary housing market in Baku in June 2012 decreased by 0.4 percent and amounted to $986 per square meter compared to May.
In June, the volume of supply on the secondary housing market increased by 0.9 percent. The supply on the market reached 7,600 apartments.
During June and supply of four-and five-room apartments decreased while supply of one-, two-and three-bedroom apartments increased. The greatest supply increase was observed in the two-bedroom apartment, which was 1.4 percent.
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 52.1 percent. The average room rate in the housing proposed on the secondary market in June was 2.79, the average price on each room - $44,256, apartments - $111,207.
Building materials
The building materials market decreased by 0.31 percent in Baku in June compared to May. The prices on building materials decreased by 1 percent compared to early 2012 and by 0.8 percent compared to May 2011.
Compared to early 2012, the average price declined by 1.3 percent, and compared to June last year - three percent.
The share of domestic products in the total portfolio market prices of building materials was 53.6 percent, which is 1.15 percent more than index of imported goods.
The monitoring was conducted on 37 items and 87 varieties of building materials.
Despite increased sales in June due to seasonal factors, construction materials on the market declines in price.
In May, iron and veneer products imported from Russia decreased in price.
The summary table includes the building materials. The prices on these materials decreased (in percentages):
|
veneer |
-2,7 |
channel |
-1,6 |
|
wood |
-2,2 |
Iron pipes |
-3,2 |
|
laminate flooring |
-1,2 |
||
|
Zinc plates |
-2,6 |
The summary table includes the building materials. The prices on these materials increased (in percentages):
|
Rod |
+7,3 |
underroof |
+2,2 |
|
Reinforcement |
+0,6 |