TODAY.AZ / Business

Cost of a square meter of nonresidential objects makes $3,661 in Baku

20 October 2008 [16:05] - TODAY.AZ
The public association "Real estate market participants" has drawn conclusions of the monitoring of the state of the market of nonresidential areas in the capital of Azerbaijan in September of 2008.
The monitoring made it clear that the cost of commercial nonresidential objects has grown by 1.2% and rental fee for such objects by 1.5%.

The nonresidential objects in houses and new buildings, put on market, were mostly on the first and the second floors and on secondary market on the first floor.

Nonresidential objects are mostly flats, previously intended for residence. In this segment the market activeness intensified over August.

In September the average cost of a square meter of nonresidential space made up $3,661.

In September, the price index on the market of nonresidential spaces grew 32.2% over the beginning of the year and 39% over the last year.

It can be said that, classifying the nonresidential objects by zones, the cost of such objects dropped in the first and second zones and grew in the third and fourth zones.

Despite the price hike, the number of the deal grew by 3.2% over August, while the proposals packaged narrowed by 0.5%.

/Day.Az/
URL: http://www.today.az/news/business/48361.html

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