Review of construction sector in Azerbaijan (january-july 2016)

According to the Azerbaijani State Statistics Committee, in January-July housing commissioning decreased by 14.5 percent from year to year.

Some 121,100 square meters of housing were commissioned in Azerbaijan in July 2016 compared to 213,700 square meters in June 2016 (the best index in 2016) and 168,800 square meters in July 2015.

Some 888,700 square meters of housing have been commissioned in Azerbaijan since early 2016 compared to 1.039.2 million square meters in the same period of 2015.

Commissioned:

Jan.-July 2016

Compared to Jan.-July 2015 (in %)

residential buildings, total area, thousand sq. m

888,7

85,5

clubs

560

by 2 times

secondary schools, number of educational facilities

2478

50,5

Funds directed to fixed capital, in mln manat

7959,7

70,3

Including:
- for the construction of production facilities

6460,4

86,7

- for the construction of facilities in service sector

1175,9

40,5

construction and installation work

5643,9

69,3

Some 68.5 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 11.8 percent - overhaul, 3.9 percent - current repair and 15.8 percent - other construction work.

Some 88.1 percent of the total volume of construction work was carried out by non-state construction companies.

Real estate market

The prices increased by 0.08 percent on the real estate market in Baku in July 2016 compared to June 2016. The market prices increased for the first time for a long time, but nevertheless the prices greatly decreased compared to early 2016.

The prices decreased by 25.58 percent compared to early 2016, while by 29.1 percent compared to July 2015.

According to the expert, the market prices increased following an increase in commercial facility prices, as well as the rental price for real estate and facilities.

The prices increased by 3.61 percent on the market of commercial facilities in July.

Thus, the prices have decreased by 16.8 percent since early 2016 and by 20.16 percent compared to July 2015.

The prices increased by 1.2 percent on the rental market for the month, while by 7.82 percent on the market of rental facilities.

The prices decreased by 29.2 and 26.44 percent respectively compared to July 2015.

The prices on the primary housing market, the secondary housing market, as well as the land market decreased by 1.71 percent, 2.21 percent and 0.41 percent in July respectively.

Construction material market

According to the Azerbaijani State Statistics Committee, the construction materials worth 188 million manat were produced in January-July 2016, or 21.3 percent less than in January-July 2015.

During this period, Azerbaijan produced 1.283.8 million tons of cement (a 20.8-percent decrease for the year), 75,200 tons of gypsum plaster (a 30.2-percent decrease), the report said.

Azerbaijan also produced 284,200 tons of ready-mixed concrete (a 53.6 percent decrease), 36,500 cubic meters of precast concrete building structures (a 2.9 times growth), 3,110 tons of processed marble, travertine, alabaster and items made of them (a 56.9 percent decrease), 35,030 tons of building blocks and cement bricks, artificial stone bricks and concrete bricks (a 60 percent decrease).

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