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

Around 143,140 square meters of housing were commissioned in November 2015 compared to 161,190 square meters in the same period of 2014.

Over 1.63 million square meters of housing have been put into operation in Azerbaijan since early 2015, which is 9.5 percent less than in the same period of 2014.


Jan.-Nov. 2015

Compared to Jan.-Nov. 2014 (percent)

residential buildings, total area, thousand sq. m

1 634,1





Pre-school educational institutions, facilities

2 127


Funds directed to fixed capital, in mln manat

14 438,8


- for the construction of production facilities

8 835,3


- for the construction of facilities in service sector

4 689,5


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

10 570,4


Some 61.2 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 14.5 percent - overhaul, 7 percent - current repair and 17.3 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 0.43 percent on the Azerbaijani real estate market in November 2015.

The prices have reduced by 22.91 percent on the real estate market during a year.

The decline in prices is observed on the housing market.

In general, the prices continue reducing on the market. The exception was the land market, where the prices increased by 1.58 percent in November compared to October. This is connected with the fact that the prices on the market meet the opportunities of the population. So, the activity is preserved on the land market. However, the prices on the land market also declined by 12.12 percent.

The prices declined by 1.47 percent (a 25.69 percent decrease during a year) on the secondary housing market in November, while by 2.52 percent on the primary housing market (by 28.51 percent during a year).

The largest decline during the year occurred on the market of commercial facilities. Thus, the prices on the market decreased by almost 34 percent during the year. The prices declined by 2.13 percent in November. The prices on the rental market also declined. The prices reduced by 2.09 percent in November, while by 20.16 percent during the year.

Commercial real estate market

According to MBA Group consulting company, the number of commercial facilities put on sale increased by 9.7 percent in Baku in November 2015 compared to the previous month.

A decline, which started in March, was observed on the commercial real estate market of Baku after June [an increase by 23.08 percent - from 156 to 192 facilities].

According to the monitoring, some 116 commercial facilities were put up for sale in November, while in October the number was 105. The number of commercial facilities put up for sale reduced by 37.97 percent (187 in November 2014) compared to November 2014.

The major share (47.1 percent) of commercial facilities put up for sale accounted for "vacant land plots" (a type of sites which can be used as an office, a shop and other purposes), 25 percent - the service facilities, 13.2 percent - shops, 7.4 percent - offices, basements.

An average area of non-residential facilities was 197.37 square meters or by 6.2 percent more compared to the previous month.

The largest land plot in Baku was registered near Nizami metro station in Yasamal district - 900 square meters (a vacant land plot), the smallest land plot also in Nasimi district - 18 square meters (a vacant land plot).

The fluctuations of prices and market activity in November did not increase the period of exposing the facilities put up for sale. Within a month the period of exposing non-residential facilities amounted to 219 days.

The average cost of a non-residential area in dollars decreased by 2.13 percent in November (compared to October 2015), reaching $2,947 per square meter. The average rent per square meter in November was $14.25 or by 3.26 percent more than in the same period of the previous month.

The price index in November 2015 decreased by 22 percent compared to the same period of 2014, but by 2.13 percent compared to October.

Changes in prices on non-residential areas depending on the zones:


October 2015

November 2015

Change in %






4 451

4 759



Vacant land plots

2 473

2 682



Service facilities

3 399

3 068




2 120

2 169




1 123

1 163



Industrial facilities





Subscribe to Trend in Google News! Subscribe
US corporate workers to start returning to offices next month
US corporate workers to start returning to offices next month
US military eliminates one of Al-Qaeda leaders in northwest Syria
US military eliminates one of Al-Qaeda leaders in northwest Syria
Biden, Macron discuss cooperation, to meet in Rome late October
Biden, Macron discuss cooperation, to meet in Rome late October
Loading Bars
UK records another 44,985 new coronavirus cases
Tactical-Special Exercises of Azerbaijani Special Forces end (VIDEO)
First Vice-President Mehriban Aliyeva shares photos from visit to Zangilan with President Ilham Aliyev (PHOTO)
Azerbaijani, Iranian FMs talk recent relations developments
Members of Nizami Ganjavi International Center join call towards cop26
Arayik Harutyunyan's visit to Russia is solely private - embassy of Azerbaijan
NATO not ready for equal dialogue with Moscow - Russian defence chief
Saudi-led coalition says destroys Houthi vessels, bomb-laden boats site
Kazakhstan updates forecast for completion of grain harvesting
IRENEX shares data on sales of Sepahan Oil Company in energy exchange
EIB to help reduce COVID-19 effects on Georgian SMEs
Moscow comments on reports about holding Russia-Armenia-Azerbaijan summit on Nov.2021
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,315 more COVID-19 cases, 981 recoveries
First Vice-President Mehriban Aliyeva shared footage from Zangilan visit on her Instagram page (VIDEO)
Turkmenistan to participate in EXPO-2025
Georgia and Ukraine sign protocol on economic cooperation
Weekly review of key events in Azerbaijan's ICT sector
Azerbaijan's liberated lands to contribute to expansion of TRACECA corridor - minister
Weekly review of main events in Azerbaijan's transport sector
Saudi Arabia targets net zero emissions by 2060
Russia registers an all-time high of 37,678 coronavirus cases in past day
Uzbekistan eyes foreign technology for better local polymer production
Turkmen delegation to pay working visit to Iran
Azerbaijan records growth in loan portfolio of local banks in 9M2021
Turkmenistan’s Turkmenbashi refinery eyes producing hydrogen
Azerbaijan, Singapore to co-op in construction of geostationary satellites
IRICA shares data on Iran's trade turnover with SCO member states
Iran sees increase in exports of non-oil products from Hormozgan Province
Weekly review of Azerbaijani precious metals market
Kazakhstan unveils trade indicators with its TOP-3 EU partners
Turkmenistan approves new procedure for allocating investments from Stabilization Fund
Azerbaijani MoD observes exercises in liberated Lachin district (VIDEO)
Russian Health Ministry greenlights joint COVID-19 and flu vaccination
Central Bank discloses volume of loans issued to Azerbaijan's districts
Georgia records surge in tourist visits from Uzbekistan
Tourist inflow from Kazakhstan to Georgia soars
Iran boosts exports through customs of Zanjan Province
Azerbaijan notes decrease in banking sector' profit
Azerbaijan sees rise in mortgage lending
Iranian currency rates for October 23
Weekly review of Azerbaijani currency market
Georgia releases data on COVID-19 cases for October 23
New customs post in Azerbaijan to speed up cargo movement along North-South corridor (PHOTO)
Azerbaijan, Armenia to sign new documents in Moscow
Azerbaijani oil prices increase
Georgia sees decrease in tourist inflow from Azerbaijan
Turkmen company to purchase material, technical resources via tender
Kazakh energy company opens tender to buy metal corners
Kazakh oil company opens tender to buy spares
Kazakh KazMunayTeniz opens tender for Caterpillar equipment maintenance
Azerbaijan's Central Bank unveils data on currency exchange operations for Jan. through Sept. 2021
Azerbaijani fund presents concept for restoration of liberated territories
EDB purchases bonds of Kazakh KEGOC JSC
US corporate workers to start returning to offices next month
Iran changes pricing of petrochemical products at its mercantile exchange
Iran's foreign exchange needs trigger to expand exports
Surge of energy prices puts Europeans in stalemate (VIDEO)
Chinese company opens massive eco-friendly mine in Serbia
Kazakhstan’s daily COVID-19 case count stands at 1,732
Georgian honey exports skyrocket, following COVID-ravaged year
Iranian envoy, head of Georgia's State Security Service meet
Turkey announces commissioning date for logistics center in Sivas (Exclusive)
US military eliminates one of Al-Qaeda leaders in northwest Syria
Mutation of Delta variant may be more transmissible: UK health agency
Biden, Macron discuss cooperation, to meet in Rome late October
India, UK working on free trade agreement: Harsh Vardhan Shringla at India Global Forum
Turkey reports 28,192 daily COVID-19 cases
G7 countries reach breakthrough on digital trade and data
India perhaps only G20 country to fulfil...: India ahead of COP26 climate summit
U.N. plane aborts landing as air strike hits Ethiopia's Tigray
Relations with India stronger than ever, says Maldives Defence Minister
Chronicles of Victory: October 23, 2020
Iranian delegation leaves for Tashkent to observe elections
UK PM Johnson says fresh COVID lockdown not on the cards
2 soldiers, terrorist killed in northwestern Pakistan's clash
Pfizer/BioNTech COVID-19 vaccine shows 90.7% efficacy in trial in children
Belarus, Kazakhstan discuss joint efforts to maintain regional security
Georgia, Turkey to set up joint air force plant
TURKIC.World project presented at media forum of Turkic Council (PHOTO)
Iran boosts transit via TRACECA corridor
French court annuls "treaty" with illegal Armenian regime in Azerbaijan's Karabakh
Azerbaijan's MoD inspects combat positions in liberated Kalbajar, Lachin districts (PHOTO)
Uzbekistan Airways opens tender related to local fire alarm system
Iran looks to enhance road development in Ardabil province
Main countries of origin for tourists arriving in Georgia
Spanish Gedepsa interested in growing olive plantations in Uzbekistan
Azerbaijan reveals number of mines, munitions found on its liberated lands (PHOTO)
Overview of Uzbekistan's retail trade turnover dynamics between 2010-2020
When Karabakh road infrastructure to be fully ready?
Armenians propagate Nazi Nzhdeh and accuse Azerbaijan of racism (VIDEO)
Relations With India Stronger Than Ever, Says Maldives Defence Minister
Bennett-Putin meeting lasted five hours, was warm and positive
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,112 more COVID-19 cases, 882 recoveries
Australia says EU has postponed free trade talks for second time
Azerbaijan’s volume of non-cash payments continues to grow
Delta Galil files for Nasdaq offering
Azerbaijan's investment attractiveness increased after liberation of its lands - minister (PHOTO)
Turkmenistan reduces wheat imports from EAEU states
All news