Review of construction sector in Azerbaijan (January-February 2018)
Most of construction work accounted for primary construction, reconstruction and expansion in January-February 2018, the Azerbaijani State Statistics Committee said.
Some 60.3 percent of the total volume of construction work accounted for primary construction, reconstruction and expansion, 10.1 percent - overhaul, 8.8 percent - current repair and 20.8 percent - other construction work.
Some 82.1 percent of the total volume of construction work was carried out by non-state construction companies.
Real estate market
The price index in the real estate market of Baku in February 2018 increased by 1.75 percent.
During the month, the prices increased for primary housing and land areas, as well as rental of commercial properties.
Thus, prices in the primary housing market in February increased by 1.55 percent, in the land market - by 1.99 percent, and in the market for renting of commercial properties - by 1.83 percent. Meanwhile, the prices in the secondary housing market decreased by 2.13 percent, in the rental market - by 4.2 percent, and in the market of commercial properties - by 3.69 percent.
The prices in the real estate market increased by 3.22 percent since early 2018. The growth is mainly linked with an increase in the cost of apartments in the primary housing market.
So, prices in the primary housing market increased by 8.5 percent from the beginning of the year. The price growth in the land market hit 2.72 percent, in the market of commercial properties - 0.36 percent, and their lease - 4.75 percent, while prices in the secondary housing market decreased by 1.63 percent since early 2018, and prices in the rental market for residential premises have not changed since the beginning of the year.
Building materials market
According to the Azerbaijani State Statistics Committee, the building materials worth 67.7 million manat were produced by Azerbaijani companies in January-February 2018, which is by 40 percent more than in January-February 2017.
According to the report, 352,800 tons of cement were produced in Azerbaijan in January-February 2018 (an increase of 52.1 percent compared to January-February 2017), 3,400 tons of building lime (a decrease of 22.8 percent), 4,000 tons of asphalt (a decrease of 8.2 percent), 40,000 cubic meters of bricks (an increase of 1.8 times), 179,000 tons of ready-mixed concrete (an increase of almost 4 times).