In May, the most expensive land in the capital is put up for sale in the Narimanov district - the owner actually requested $200,000 for 0.01 hectares - one hundred square meters (under construction of a high-rise building). This is not a speculative price because now it is the most promising and popular land for settlements. Construction companies erect housing and commercial facilities there.
With regard to the average market price of one hundred square meters of land (Baku and Absheron district), in May, it was at $ 16,062 (+ 1.5%). Lands on exposure in the land market were exhibited for an average of 187 days (+ 1 day to the April index).
In the capital, the largest increase in the average cost of 0.01 hectares of land was recorded in Garadagh (+ 13.5%) and Binagadi (+ 10.6%).
While in March-April, the cheapest land was offered in the Khazar district, now mass construction has pushed it from the list of outsiders, and it was replaced by the Surakhani district ($ 760 per hundred square meters). We are talking about bargain prices, without the cost of notarization and building permits from the local authorities. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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