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

According to the Azerbaijani State Statistical Committee, the volume of construction work in Azerbaijan increased by 34.9 percent in January-August 2012 compared to the same period of last year.

In particular, the volume of construction work carried out by state-owned companies hit 24.7 percent of the total amount of work, while private companies - 75.3 percent.

Some 73.2 percent of the total volume of construction work fell to the primary construction, reconstruction and expansion, 14.1 percent - overhaul, 2.3 percent - current repair, 10.4 percent - other construction work.

In August, compared to July, volume of housing commissioning in Azerbaijan increased by 15.9 percent, and compared to August 2011 - by 2.1 times. According to the Azerbaijani State Statistical Committee, in August, 145,900 square meters of housing were commissioned compared to 125,300 square meters in July and 68,900 square meters in August 2011.

Some 1.067.9 million square meters of housing were commissioned in January-August 2012 compared to 1.087.4 million square meters in April. A 1.8 percent -decrease was observed in these volumes.

Primary residential market

According to the "Property Market Participants" public organization, prices in August remained unchanged. A similar situation occurred in the major cities of the country. At present, the average price index is 802.3 manat per 1 square meter. Compared to the previous quarter, prices fell by 2.3 percent, and compared to last year - 4.1 percent.

During the month the most attractive districts of Baku was Yasamal, Khatai and Nasimi.

Secondary market

Price on the secondary housing market in Baku in August 2012 increased by 1.3 percent and amounted to $993 per square meter.

During the month an increase in prices was observed in Khatai district (by 3.2 percent).

In August, the volume of supply on the secondary housing market increased by 0.9 percent. The supply on the market reached 7,700 apartments in August.

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 extended table of average prices per square meter of living space has been prepared on the basis of the "Property Market Participants" public organization's data.

The prices as of August 2012

Name of places

price
1 sq.m/$

Nasimi bazar

1364

"Sharq bazari"

1159

"Teze bazar"

1372

Yasamal bazar

1247

Akhundov garden

1862

Zorge garden

1347

Molokan garden

2477

Samad Vurgun park

1700

Badamdar settlement

1100

Bail settlement

1111

Bakikhanov settlement

984

Balajari settlement

1053

Bina settlement

707

Buzovna settlement

771

Vorovski settlement

1501

Garachukhur settlement

943

Darnagul settlement

815

Zabrat settlement

698

Zikh settlement

988

Yasamal settlement

1142

New yasamal settlement

783

Yeni Guneshli settlement

940

20-th sector settlement

852

Keshla settlement

1055

Kohne Guneshli settlement

991

Lokbatan settlement

788

Montin settlement

1344

Mushfiq settlement

615

Rasulzade settlement

1100

Sabunchi settlement

996

Sakhil settlement

786

Surakhani settlement

994

Khirdalan

845

A. Aslanov settlement

831

Hovsan settlement

792

Ahmedli settlement

833

Near zoo

1436

Baku cinema

922

Qalaba cinema

1062

Drujba cinema

1260

Azerbaijan cinema

2302

Nizami cinema

2154

G.Z. Taghieyv industrial complex

1015

Neapol area

902

Ukraine area

1002

May 28 street

1690

A. Neymat street

1320

Bakikhanov street

1562

D. Aliyeva street

1391

Z. Bunyatov prospect

1032

Z. Khalilov prospect

1433

Hasan Aliyev prospect

1225

Istiglaliyat street

1937

M. Qashqai street

1254

M. Khadi street

878

Mehmandarov street

883

N. Tusi street

862

Nakhchivan street

1216

Nizami street

2276

Nizami street (Torgovaya)

2522

R. Behbudov street

1817

S. Vurgun street

1573

Tebriz strret

1231

Fizuli street

1791

Khagani street

1962

U. Hajibayov street

1451

Shikhlinski street

960

Z. Aliyeva street

1940

J. Hajabayli street

1601

E. Alakbarov street

1548

Sharifzade street

1165

"January 20" metro station

1282

"May 28" metro station

1765

"Icherisheher" metro station

1858

"Gara Garayev" metro station

1137

"Elmler Akademiyasi" metro station

1366

"Inshaatchilar" metro station

1202

"Memar Ajemi" metro station

1214

"Neftchiler" metro station

1195

"Nizami" metro station

1461

"N. Narimanov" metro station

1444

"Sahil" metro station

2236

"Khalglar dostlugu" metro station

1029

"Khatai" metro station

1198

"A.Aslanov" metro station

920

"Ganjlik" metro station

1465

"Akhmedli" metro station

1441

1-st micro-region

1044

2-nd micro-region

1010

3-rd micro-region

1105

4-th micro-region

1123

5- th micro-region

1080

6- th micro-region

1016

7- th micro-region

1032

8- th micro-region

1220

9- th micro-region

1018

Icherisheher

2034

Europe hotel

1244

"Hyаtt Rеgеncy" hotel

1277

U.S embassy

1350

Russian embassy

1400

Azadliq prospect

1320

Azerbaijan prospect

2010

Ataturk prospect

1350

Babak prospect

1160

Bulbul prospect

2164

Inshaatchilar prospect

1342

H. Aliyev prospect

1300

Metbuat prospect

1150

Neftchilar prospect

2032

Narimanov prospect

1381

Parliament prospect

1853

Tbilisi prospect

1200

F. H. Hoyski propect

1295

H. Javid prospect

1444

Ganja prospect

896

Novel prospect

792

A. Sultanova monument

1253

K. Marx monument

1180

N. Narimanov monument

1431

School No20

1549

Airline cash desk

1320

Azneft area

2154

"Beshmertebe"

1829

Central universal department store

1857

H. Aliyev palace

1570

Olimp store

1371

Fountain square

2460

Hospital No5

1282

8 kilometer settlement

1113

Javanshir bridge

1322

Narimanov district court

1292

Azerbaijani drama

1714

Statistics committee

1451

Medical university

1364

Radio works

985

Khazar department store

883

Building materials

In August 2012, prices in the building materials market decreased by 0.22 percent compared to the previous month. Compared to early year the average price dropped by 1.4 percent, while compared to the same period in 2011 increased by 4.1 percent. The share of domestic products in the total volume of construction materials hit 53.5 percent.

Monitoring was conducted on 37 items and 88 types of building materials.

The summary table shows construction materials, prices of which decreased (in percentage):

Glass

-2,1

Roofing slate

-2,9

Land market

The average price of one hundred square meters in Baku in August increased by 0.5 percent - from $14,895 to $14,967. In August, land price increased in many districts of Baku. The biggest rise in prices was observed in Binagadi district (1.7 percent). Binagadi and Garadagh districts were the most active on the land market. The most passive was Narimanov district.

According to the information, 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 August, Baku's land market offered for sale 742.0 hectares of land, 80.7 percent of which were empty plots and the rest were uninhabited and old inhabited plots.

Commercial market

In August, in the market of non-residential buildings in Baku average price of property and cost of rental housing used for commercial purposes increased over the last month, respectively by 0.3 percent and 0.4 percent.

The average price per square meter of non-residential area in Baku in August hit $2872 compared to $2864 in a month earlier. According to the studies, price compared to the same period of 2011 increased by 0.4 percent, compared to the previous quarter - by 0.2 percent.

No increase in the price of non-residential facilities was obsreved in any districts of Baku, and major decline occurred in Binagadi district of Baku - by 0.4 percent.

Zones

Average price in August

Difference in price in percentage

Zone I

4891

0.1

Zone II

3506

0.4

Zone III

2126

0.3

Zone IV

760

0.1

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