Review of construction sector in Azerbaijan (January-April 2016)

Some 69.6 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 11.8 percent - overhaul, 2.5 percent - current repair and 16.1 percent - other construction work.

Some 89 percent of the total volume of construction work was carried out by non-state construction companies.

According to the Azerbaijani State Statistics Committee, some 109,000 square meters of housing were put into operation in Azerbaijan in April 2016 compared to 65,200 square meters in March and 175,000 square meters in April 2015.

Some 443,700 square meters of housing have been put into operation in Azerbaijan since early 2016 compared to 589,500 square meters in the same period of 2015.

Commissioned:

Jan.-April 2016

Compared to Jan.-April 2015 (%)

residential buildings, total area, thousand sq. m

443,7

75,3

clubs

420

150,0

secondary schools, number of educational facilities

2118

69,0

Funds directed to fixed capital, in mln manat

4291,3

68,9

Including:
- for the construction of production facilities

3724,7

90,7

- for the construction of facilities in service sector

405,7

28,9

Funds directed to fixed capital, in mln manat

2984,5

64,5

According to the MBA Group consulting company, the real estate prices slightly decreased by 3.59 percent in manats and 0.52 percent in dollars on Baku's market in April 2016 compared to March.

The primary housing prices in manats decreased by an average of 2.24 percent [while in dollars increased by 1.02 percent]. The secondary housing prices in manats decreased by 1.57 percent [while in dollars increased by 1.71 percent].

The land plot price in manats for the month decreased by an average of 1.73 percent, while in dollars increased by 1.55 percent. Great activity is observed on the land market compared to other markets. This is connected with the beginning of the summer season. Nevertheless, the general activity decreased by 7-8 percent on the real estate market compared to March.

The exposure period increased as a result of the poor activity. Earlier, the exposure period averaged 111-112 days on the real estate market, but now - 115 days.

The commercial property prices greatly decreased. The prices in manats decreased by 8.83 percent, while in dollars - by 5.79 percent.

The commercial property rent decreased by an average of 6.75 percent in manats [3.64 percent in dollars], while housing rent - 2.3 percent [in dollars - a 0.96 percent growth].

The recent rise in oil prices has had a certain influence on the stabilization of real estate prices. The oil prices have not greatly changed to impact on the real estate market. There is a certain threshold of oil prices. After reaching this threshold, the impact of oil prices will increase on the real estate market, that is, $50-60 per barrel.

There is no direct dependence between oil prices and property prices. However, the oil prices may affect the housing prices through a number of factors, which vary depending on the oil prices. Among these factors are the monetary base volume, the exchange rate, GDP growth rates, employment, inflation, etc.

The real estate prices in manats decreased by 1.96 percent on Baku's market in March 2016 (in dollars - 0.31 percent) compared to February. The primary housing price in manats increased by 1.41 percent (in dollars - 3.98 percent), while the housing price in manats on the secondary market increased by 3.84 percent (in dollars - 3.43 percent). The prices in manats on both markets have increased by 20.65 and 0.3 percent, respectively, since early 2016 but decreased by 18.27 and 30.24 percent in dollars respectively.

Subscribe to Trend in Google News! Subscribe
Truck collides with passenger bus in Baku (PHOTO)
Truck collides with passenger bus in Baku (PHOTO)
Nizami Ganjavi International Center hosts side event as part of UN General Assembly's 76th session  (VIDEO)
Nizami Ganjavi International Center hosts side event as part of UN General Assembly's 76th session (VIDEO)
Indian gov't says 75 pct of stolen heritage returned during last seven years
Indian gov't says 75 pct of stolen heritage returned during last seven years
Loading Bars
Latest
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
Azerbaijan’s wheat imports from EAEU countries revealed
Belarusian company to supply Azerbaijan with cables
Azerbaijan sees growth in its population's bank deposits in September 2021
Azerbaijan commissions recently built military facilities in its liberated lands (PHOTO/VIDEO)
Non-tourist trips to Georgia plummet
Kazakh Tengizсhevroil to reduce LPG supplies to Ukraine after polypropylene plant's launch
Iran to use domestic capacity for road fleet modernization
Azercell once again bestowed with ISO 37001:2016 Anti-bribery Management Systems standard of compliance
Azerbaijan reveals data on mine clearance work carried out in liberated lands
Azerbaijan’s cargo transportation by all types of transport decreases in 9M2021
Ukrainian companies interested in entering Turkmen market
EBRD, EU to provide loans for indirect financing of green technologies in Georgia
SOCAR-AQS exceeds drilling progress plan
President Ilham Aliyev sends congratulatory letter to Hungarian counterpart
Azerbaijan to expand co-op with Turkey in mine clearance – ANAMA
Uzbekistan signs agreement to put out former uranium mining sites
Iran eyes developing non-oil exports
India hopes to work with China for resolution of issues: Shringla
Azerbaijan’s Bulla Deniz produces over 54,000 tons of oil with technical measures
UK foreign secretary begins India visit today, to hold talks with Jaishankar
Uzbekistan to expand network of local duty-free shops
Azerbaijani SME agency ready to fully support alternative energy dev't
SOCAR sums up results of operation at Oil Rocks
Turkmenistan overhauling railways on border of Akhal, Balkan regions
SOCAR reveals time of commissioning 2nd production complex at Gunahsli field
Uzbek, Russian enterprises considering joint textile enterprises
Azerbaijan to start exporting locally-produced mineral water to Europe (PHOTO)
Azerbaijan not planning to transfer all schools online - ministries
SOCAR details on works carried out at Heydar Aliyev Oil Refinery in 2020
Progress on CAREC transport projects in Kazakhstan unveiled
Russia reports 37,141 COVID-19 cases in past 24 hours
Natural gas, coal prices to remain at high levels through start of 2022
FAO's representative office may be opened in Turkmenistan
Kazakhstan's main gas supplier to engage repair services via tender
Oil demand to reach its pre-pandemic level in 2022
Regional carrier SkyWest cancels 700 U.S. flights over technical woes
Georgian energy reform to create competitive market
Turkmenistan, UN talk co-op in food security
Turkmenistan, EU to intensify co-op in number of areas
Turkic states need to jointly fight disinformation campaigns - Azerbaijani president's assistant
Kazakhstan boosts monetary base indicators
Azerbaijan exceeds commitment under OPEC+ deal
Kazakhstan's TOP-3 trade partners for 8M2021 announced
Pushed by ‘Covid growth drivers’, India on course to be $5 tn economy by 2024-25, says Puri
BCCI could earn up to $5 billion from IPL broadcasting rights
Chip crunch to cut Renault's 2021 output by 500,000 cars
2020 became particularly significant year for Azerbaijani people - president's assistant
Azerbaijani oil prices fall
President Ilham Aliyev, First Lady Mehriban Aliyeva and their daughter Leyla Aliyeva attend inauguration of DOST Center for Inclusive Development and Creativity (PHOTO)
Kazakh energy company opens tender to buy bitumen
Uzbekistan Airports JSC cuts tariffs for foreign airlines
President Ilham Aliyev, First Lady Mehriban Aliyeva and their daughter Leyla Aliyeva view conditions created at new rehearsal building of National Gymnastics Arena (PHOTO)
Equinor, SOCAR mull opportunities for exploration at ADUA
Uzbekistan’s Jizzakh Automobile Plant eyes increasing production capacity
Kazakhstan reports increase in product transport via pipelines
Kazakh energy company opens tender to buy electrical goods
In 44-day war in Karabakh, we witnessed two-faced behavior of int’l media – Erdogan
Azerbaijan's main goal after victory is restoration of Karabakh - president's assistant
Creation of green zones in Azerbaijan’s liberated territories - part of UN program to combat global climate change – Deputy Minister
Chambers of Commerce of Turkmenistan and Switzerland hold business forum
Gas prices to ease, but to remain elevated in Europe
Georgia shares data on COVID-19 cases for October 22
Turkmenistan to organize Business French language training for female entrepreneurs
JICA to issue report on Study for Electric Power System in Azerbaijan next year
Japanese companies to invest in Georgian energy sector
Kazakhstan introduces electronic customs escort of vehicles during goods transit
Azerbaijan, UN sign MoU to promote corporate sustainability
Azerbaijani Finance Ministry to put medium-term gov't bonds up for auction
Azerbaijan reveals state budget revenues for 9M2021
Azerbaijan's consolidated budget revenues increase
Expenditures of Azerbaijan's state budget for 9M2021 revealed
U.S. drops tariff threat in digital tax transition deal with European countries
Sputnik V contributes to one bln coronavirus vaccinations in India
Israel to readmit COVID-vaccinated foreign tourists next month
Oil prices drop; Brent on track for first weekly dip in seven
Higher oil, natural gas prices to see some demand destruction
IsDB Institute Wins Again ‘Best Islamic Research Firm’ Award
1,742 more COVID-19 cases reported in Kazakhstan
Biden says does not want cold war with China
Chamber of Commerce head talks Iran's trade, tourism ties with Oman (Exclusive)
All news