Land drops in price from almost $500,000 to $360,000 in Baku

Day.Az reports with reference to the said organization that the monitoring revealed that in December prices on land market dropped 4.1% making $23,821. Notably, in November the average cost of a hundredth part of land in Baku made $24,846.

While comparing prices on lands, it becomes clear that through the past month prices rose insignificantly only in the Narimanov district (0.1%). In all other regions of Baku prices dropped down. The highest drop was fixed in Khatai region - by 4.1%.

Notably, like in previous months, the portfolio of proposals on lands in Baku was mainly formed in the result of appearance of new free lands. In turn, it was reported that the activeness of this segment of real estate market dropped as compared to November.

In December the most expensive land in Baku in December was put for self at Ataturk avenue in Narimanov district. Its cost made $360,000.

Notably, in July of 2008 the most expensive hundredth part of land made $400,000, in August and September $425,000, in October $480,000.

The cheapest proposal in December was fixed in Leish settlement of Sabunchi, where the hundredth part was $450.

/Day.Az/