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Review of construction sector in Azerbaijan (January-October 2015 )

Analysis Materials 9 December 2015 17:55 (UTC +04:00)

Around 163,580 square meters of housing were commissioned in October 2015 compared to 185,840 square meters in the same period of 2014.

Some 1.49 million square meters of housing have been put into operation in Azerbaijan since early 2015, which is 9.4 percent less than in the same period of 2014.

Commissioned:

Jan.-Oct. 2015

Compared to Jan.-Oct. 2014 (in percent)

residential buildings, total area, thousand sq. m

1 491,0

90,6

Hospitals

195

137,3

Pre-school educational institutions, facilities

2 127

194,8

Funds directed to fixed capital, in mln manat

13 087,1

98,1

Including:
- for the construction of production facilities

8 076,2

100,6

- for the construction of facilities in service sector

4 150,8

95,9

- for the construction and installation work of the total amount of funds

9 760,1

102,6

Some 61 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 14.9 percent - overhaul, 6.9 percent - current repair and 17.2 percent - other construction work.

Some 87.9 percent of the total volume of construction work was carried out by non-state construction companies.

According to MBA Group consulting company, the prices decreased by 1.02 percent on the Azerbaijani real estate market in October 2015 compared to September.

The prices have reduced by 23.6 percent on the real estate market since early 2015.

The decline in prices is observed on the housing market. According to the company, the reduction was fixed on the primary and secondary housing markets. The prices on the secondary housing market reduced by 3.1 percent during a month. A 24.6 percent decline was observed compared to early 2015. The prices reduced by 1.2 percent on the primary housing market in October. The prices have reduced by 26.7 percent since early 2015.

The prices reduced by 2.1 percent on the housing market in October compared to September. The Azerbaijani housing market has reduced by 26 percent since early 2015.

The prices reduced by 3.9 percent - from 8.98 manat to 8.63 manat per square meter on the rental market during a month. The prices reduced by almost 16 percent on the rental market since early 2015.

Construction material market

The companies engaged in building material production in Azerbaijan, produced goods worth 366.9 million manat in January-October 2015, or 9.9 percent more than in the same period of 2014, according to the Azerbaijani State Statistics Committee's report.

During this period, Azerbaijan produced 2.28 million tons of cement (a 12.6-percent increase versus the same period of 2014), 591 tons of glass fiber (twofold increase) and 160,400 tons of gypsum plaster (a 1.1-percent growth), the report said.

Azerbaijan also produced 814,200 tons of ready-mixed concrete (a 41.5 percent decrease), 359,900 tons of asphalt (a 4.3 percent growth), 19,500 cubic meters of precast concrete building structures (a 34.8 percent decrease), 10,500 tons of processed marble, travertine, alabaster and items made of them (a 2.5 times growth).

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