TODAY.AZ / Business

Cost of most expensive hundreds part of land makes $425,000 in Baku

18 October 2008 [09:07] - TODAY.AZ
The public association "Real estate market participants" drew conclusions of the monitoring of the state of the market of lands in the capital of Azerbaijan for September of 2008.
Day.Az reports with reference to this organization, that the monitoring revealed the 0.4% rise in price on lands up to $25,209 per a hundredth part in September. It should be noted that in August the average cost of a hundredth part of lands in Baku made $25,117.

When comparing prices on lands, it becomes clear that through the past month the price hike was the highest in Surakhany (6.3%) and the drop in price was the biggest in Nizami (4.5%). Prices on the Baku suburbs continue growing steadily. This factor is caused by relatively law prices as compared to the land pieces in the center.

Like in previous months, the proposals portfolio on lands in Baku was mainly created in the result of appearance of new spaces. These spaces appeared in the result of a transfer of big enterprises to the suburbs, expansion of highways, including the breaking of several buildings and so on. Despite it, the market activeness and the number of concluded deals dropped in September over  the past months.

In August the most expensive hundredth part of land in Baku, like in August, was at Ataturk avenue in the Narimanov district of Baku. It was estimated at $425,000. In June, the cost of this part was $400,000, while the cheapest proposal in September was fixed in the Absheron region in Mehemmetli settlement, where a hundredth part was sold for $400.

/Day.Az/
URL: http://www.today.az/news/business/48314.html

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