Review of construction sector in Azerbaijan (January-July 2017)

Most of construction work accounted for primary construction, reconstruction and expansion in January-July 2017, the Azerbaijani State Statistics Committee said.

Some 67.2 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 10.1 percent - overhaul, 4.5 percent - current repair and 18.2 percent - other construction work.

Some 86.9 percent of the total volume of construction work was carried out by non-state construction companies.

Some 973,700 square meters of housing were commissioned in Azerbaijan in January-July 2017, which is by 9.6 percent more than in the same period of 2016.

Some 135,600 square meters of housing were commissioned in Azerbaijan in July 2017.

The capital investments in housing construction amounted to 458.6 million manat (a 32.2 percent increase) in January-July 2017, including 76.4 million manat in July.

Real estate market

According to the MBA Group consulting company, the prices in Baku’s real estate market decreased by 3.54 percent in July 2017.

During the month, prices decreased in all market segments.

The price per square meter of secondary housing decreased by 4.29 percent, square meter of primary housing - by 4.94 percent, commercial facilities for rent – by 1.67 percent per square meter in July.

At the same time, the price of a hundred square meters of land decreased by 1.46 percent in July.

The price per square meter of commercial facilities decreased by 6.89 percent, while rental housing - by 1.98 percent.

The prices in the market decreased by 10.75 percent in January-July 2017 compared to January-July 2016.

The prices increased in the primary housing market, market of commercial facilities and land market. The prices decreased in the rest segments of the market for the year.

Thus, the prices in the primary housing market increased by 16.46 percent, land price - by 5.2 percent, prices on commercial facilities by 17.48 percent.

Thus, the prices in the secondary housing market decreased by 2.55 percent, rental housing and commercial facilities for rent - by 5.65 percent and 10.24 percent respectively.

This decline in the market is seasonal and the situation will change by the end of September. The summer months are a period of decline in demand and supply in the market. During these months, transactions on the market are always suspended. But, as experience shows, the situation will change in autumn.

The prices in the real estate market may increase by ten percent in 2017.

The prices in Baku’s real estate market in dollar terms decreased by 31.53 percent in 2016.

Construction material market

According to the Azerbaijani State Statistics Committee, the construction materials worth 297.3 million manat were produced in January-July 2017, which is by 38.3 percent more than in January-July 2016.

Cement production increased by 24.1 percent up to 1,577.6 tons, ready-mixed concrete – by 34.3 percent up to 376,200 tons, prefabricated concrete structures – by threefold up to 109,900 tons.

The production of bricks increased by 40.3 percent up to 160,200 cubic meters, processed marble, travertine, alabaster and items made of them – by 3.1 times up to 9,717.8 tons, building blocks and cement bricks, artificial stone bricks or concrete bricks – 54.5 percent up to 75,181.7 tons in January-July 2017.

The production of gypsum plaster decreased by 28.1 percent up to 54,100 tons, asphalt - by 63.5 percent up to 94,800 tons, construction lime – by 13.8 percent up to 13,353 tons, the report said.

Biden confirms invitation to Putin to take part in climate summit
Biden confirms invitation to Putin to take part in climate summit
U.S. will base 500 additional troops in Germany
U.S. will base 500 additional troops in Germany
US eyes to continue negotiations on direct flights with Georgia
US eyes to continue negotiations on direct flights with Georgia
Loading Bars
Iran to start 60% enrichment tonight: Nuclear spokesman
Israel to allow vaccinated tourists in starting late May
Biden confirms invitation to Putin to take part in climate summit
Presidents of Azerbaijan, Belarus have informal meeting
IMF unveils forecast on Azerbaijan's oil export for 2021-2022
Azerbaijani FM, Romanian ambassador stress high level of development of bilateral political relations (PHOTO)
Special equipment of Belarus assembled in Azerbaijan may be exported to Turkey
Azerbaijan's Foreign Ministry responds to Armenia's statement on War Trophy Park
President of Belarus pays working visit to Azerbaijan (PHOTO)
Moscow, Tehran attach great importance to North-South Corridor – Russian FM
Azerbaijani president gives weighty answer to Armenia’s disinformation campaign - Official (VIDEO)
Belarus reveals plans for oil purchases from Azerbaijan
Kazakhstan’s FlyArystan launching direct flights to Georgia
Iran's Energy Exchange announces products to be on sale on April 14
International Bank of Azerbaijan opens tender to buy printed materials
Azerbaijan's Aghdam needs to be fully rebuilt - German historian (VIDEO)
Azerbaijan's PM meets with BP's regional president
Ukraine may take part in restoration of Azerbaijan's liberated lands
Azerbaijani Finance Ministry places short-term bonds on auction
Iron ore concentrate production by major Iranian companies increases
President Ilham Aliyev: Pakistan was among countries that openly supported Azerbaijan from first days of confrontation
Iran’s Bahar Azadi gold coin price again falling
Sudan due to send first delegation to Israel next week
Liabilities of Bank Melli Iran’s Baku branch increase
Armenia obligated under int'l law to provide mine maps to Azerbaijan - Matthew Bryza
Footage from Azerbaijani Jabrayil's Sadi village (VIDEO)
Azerbaijan, Ukraine discuss full resumption of mutual flights
Oil exports via Barents Sea in Lukoil system increased
Hydrometeorology in Azerbaijan needs young experts for technologies - ministry
Azerbaijan shares latest data on mine clearance work carried out on liberated lands
Co-op between Iran, Russia to be effective in activating nuclear deal – Rouhani
2021 demand for OPEC crude to be higher than in 2020
Assets of Iranian Bank Melli's branch in Azerbaijan increase
On Independence Day eve Israel's population over 9.3m
Iran still waiting for S.Korea to provide solution, release its blocked assets
Azerbaijan issues data on number of COVID-19 vaccinated citizens
Azerbaijan confirms 2,457 more COVID-19 cases, 2,002 recoveries
OPEC revises up forecasts for Azerbaijan’s 2021 liquids supply
Rosatom can take part in developing green energy in Azerbaijan - expert
Repairing of last well in Iran's Naft Shahr field launched
Iran in favor of strengthening relations with Russia – President Rouhani
Azerbaijan Railways builds co-op on transiting additional goods
IMF talks forecast of money supply growth in Azerbaijan for 2021-2022
European Hydrogen Backbone’s updated cost revealed
IMF predicts growth for Azerbaijan's oil, non-oil GDP
Cargo movements in Iran’s Qeshm port down
Azerbaijan expects tourism sector to recover by summer
Plan on budget revenues surpassed in Kazakhstan
Scotland to ease some COVID-19 restrictions early
Around 70% of European infrastructure to start transporting hydrogen
U.S. will base 500 additional troops in Germany
Russia documents 8,173 coronavirus cases in past day, lowest figure since September 28
Kazakhstan names value of payments of compulsory vehicle insurance
Iran's mobile phone imports increase
Azerbaijani president signs order on hosting European Football Championship matches in Baku
Kazakhstan drafts pricing rules for exported crude oil, gas condensate
Retail trade indicators decrease in Kazakhstan
Kazakh Gas Refinery opens tender to buy spares
Kazakhstan records decrease in oil output
Belarusian IT company keen to expand its activities in Azerbaijan's transport sector
Iran’s Jam Petrochemical Company announces its production plan
Uzbekistan building modern wastewater treatment facility at Uzbekneftegaz GTL plant
Kazakh Gas Refinery opens tender to buy engines
Russian, Azerbaijani military discuss Iskander-M missile debris in Karabakh region - Russian official
Greece can take slightly more than 1 mcm/d via TAP
President Ilham Aliyev: Liberation of territories will be additional opportunities
President Ilham Aliyev: Armenians did it deliberately in order to erase legacy of Azerbaijani culture in order to erase these territories from our memories
Together with Russian president, we discussed issue about Iskander-M missile – Azerbaijani president
TAP supplies to Greece cause contraction in LNG imports
Kazakhstan attracts investments to develop national parks in Almaty region
European Commission makes statement on TAP
Russia’s Federal Air Transport Agency allows flights from Irkutsk to 3 countries
President Ilham Aliyev: I had a strong feeling during negotiations that Armenia doesn’t want a solution
President Ilham Aliyev: I think we need to be more active in order to try to build bridges
ADB focuses on renewable energy projects in Georgia
US eyes to continue negotiations on direct flights with Georgia
Bank of Georgia discusses revised outlook for country’s economic growth in 2021
Anabechdi company plans to produce textile in Georgia
Georgia to receive significant funds from IMF
Azerbaijan reveals 2M2021 data lending to energy, chemistry, natural resources sector
Georgian E-Space company looks to export its software
Death toll from coronavirus pandemic in Iran exceeds 65,000
Amount of Georgian bonds held by foreign investors up
JSC "Georgian Railway" reveals financial indicators for 2020
Uzbekistan, Russia discussing joint projects on aircraft construction
Iran's propane gas exports shrink
Armenia committed ecological terror during occupation of Azerbaijani lands - Ecology ministry
India, EU reiterate commitment to democracy, freedom and respect for human rights
Bangladesh: Multinational military exercise 'Shantir Ogroshena 2021' concludes
Turkey’s export of grains, legumes to Iran jumps
PM Modi to inaugurate virtual Raisina Dialogue, 50 countries to participate
US to support Georgian farmers, small business owners through agrotourism
External merchandise trade down in Georgia
New buildings of Turkmen Turkmenbasy, Senagat banks opened
Turkey's 1Q2021 export of chemical products sees increase
Iran's polyethylene exports rise
Georgia assists new ferroalloy enterprise in Terjola through "Produce in Georgia" program
Azerbaijan issues data on compulsory non-life insurance for Feb.2021
Foreign currency demand of Azerbaijani banks rebounds
Azerbaijan's revenues from customs duties increase
All news