Review of construction sector in Azerbaijan (January 2016)

Some 58.9 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 20 percent - overhaul, 2.8 percent - current repair and 18.3 percent - other construction work in January 2016.

Some 82.5 percent of the total volume of construction work was carried out by non-state construction companies.

Commissioned:

January 2016

Compared to January 2015 (percent)

residential buildings, total area, thousand sq. m

133,7

110,3

Hospitals

-

-

Pre-school educational institutions, facilities

476

-

Funds directed to fixed capital, in mln manat

-

-

Including:
- for the construction of production facilities

880,7

76,8

- for the construction of facilities in service sector

772,0

76,5

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

65,7

71,6

residential buildings, total area, thousand sq. m

643,0

75,5

Housing construction increased by 10.3 percent in Azerbaijan year on year. Some 133,700 square meters of housing were commissioned in January 2016 compared to 121,160 square meters in January 2015.

According to MBA Group consulting company, Baku's real estate market intensified by five- six percent in January 2016 compared to December 2015.

The growth of activity on the market is related to the changes in the banking sector. Some people decided to invest in real estate, rather than keep money in the form of deposits due to the recent events. However, there are few such people.

The real estate prices increased amid slight revival on the market. So, the prices in manats increased by 5.3 percent on the market in January.

The cost of primary housing increased by 1.5 percent, secondary - by 0.6 percent, rent of apartments - by 2.1 percent. The prices increased by 4.3 percent on the market of commercial facilities last month. The rent of commercial facilities also increased by 1.1 percent. The prices in manats reduced on the land market in January. The cost of land plots dropped by almost three percentage points in January.

The prices in dollars dropped by an average of 30-35 percent on the real estate market.

Construction material market

The companies engaged in building material production in Azerbaijan, produced goods worth 8.8 million manat in January 2016, or 53.6 percent less than in January 2015.

During this period, Azerbaijan produced 101,200 tons of cement (a 46.9-percent decrease per year), 12,900 tons of gypsum plaster (a 22.6-percent growth), the report said.

Azerbaijan also produced 43,600 tons of ready-mixed concrete (a 52.9 percent decrease), 21,900 tons of asphalt (a 2.4 times growth), 1,200 cubic meters of precast concrete building structures (a 29.4 percent decrease), 144,900 tons of processed marble, travertine, alabaster and items made of them (a 85.5 percent decrease), 1.05 million tons of building lime (a 31 percent decrease), 2.18 million tons of building blocks and cement bricks, artificial stone or concrete (a 81.4 percent decrease).

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