Today.Az » Business » Average price rise 4.2% on Baku Real Estate Market
08 February 2007 [23:29] - Today.Az
The supply portfolio dipped in real estate market from early January, Azeri Real Estate Index rose 5.8 or 2.35% to settle at 254.7, the Public Union of the Real Estate Market Participants informs.

Average price rise in real estate supply reached 4.2%, the difference (1.9%) between Index and average price resulted from high-priced housing on the market, APA reports.

Average price increase on the second housing market was 5% in January, considerably up from the same period last year (0.6%). This rise fell from a 7.2%-rise in December, 2006 to the lows for three years.
The highest prices were recorded in the "Architecture" in December while prices remained stable in January. The maximum price rise was registered in "Leningrad" (9.7%) buildings in January.

In the market supply the percentage of newly built buildings rose to 26.4% from 15.3%, "Leningrad" apartments fell to 18.8% from 25.8%. The prices mostly went up in the districts of Binagadi (7.5%) and Nizami (6.2%), price rise was more dynamic in the district of Yasamal.

The average price of country houses constituted $119,770, up 13.2% from last year.

The supply portfolio reduced on the first market in January. The average price rise for this month was 6.3% (0.7% last year) and the average price reached $731/sq m in Baku.

Land market rose 4%, the price of land per hundred square meter was $19,045.

The price went up by 2.8% on the rented house market. Commercial market rose 2.2% to $2,168 per sq m.

The price on the leasing market rose 5.1% to $20.5/sq m. In January leasing-ratio-to-sales was 10.8% for the latter.

Copyright © Today.Az