The February devaluation of the national currency had a negative impact on the sale and lease of commercial real estate, not only in the region but also in the capital. Thus, the average real cost of 1 sq. m in Baku by June 1 fell to $ 3,418 (minus 5.5% to April 30), said the head of consulting company MBA Group Nusret Ibrahimov.
According to experts, the decline may be continued against the background of falling business activity, even against this background, the cost of 1 sq. m. of commercial real estate has grown in comparison with May 2014 by 23.33%.
The same can be said about the exposure (time of an offer for sale up to the acquisition) of objects - if, before the sudden devaluation an owner waited an average of 150 days, today customers are found on average for 199 days.
Also decreased, respectively, the cost of rent of 1 square. m. of commercial real estate - in Baku it is $ 13.7 (minus 0.72%). --17D-
Economics
-
Azerbaijan has undertaken significant regulatory reforms to advance its digital and transport sectors, President Ilham Aliyev announced on Thursday, signing a decree amending the regulations governing the activities of the Ministry of Digital Development and Transport.
-
The Ministry of Agriculture of Azerbaijan has announced the return of its renowned fair, "From Village to City," which will take place from December 21 to 30 in Baku. The event, held in the Narimanov district near the "Ganjlik" metro station, will provide farmers with a platform to sell their products directly to consumers, bypassing intermediaries.
-
From December 1, 2024, the State Oil Company of the Azerbaijan Republic (SOCAR) has commenced gas deliveries to Slovakia under an agreement reached in November with SPP, Slovakia's state-owned energy firm, SOCAR announced in a press release.
-
Azerbaijan is set to witness a surge in beer production over the next four years, according to government forecasts for 2025-2028. The projected rise underscores the country’s shift toward boosting its brewing industry, supported by agricultural initiatives aimed at increasing barley and hops cultivation.
Leave a review