Thousandfold Difference between Market Values of Land in Baku

Land in the capital of Azerbaijan fell in the value in July. Though it is insignificant (0.7%), the difference is a fact.

Compared with June, the price of the land market of Baku in July fell to an average of $14,895 per 100 m2.

According to the monthly monitoring of the Public Association "The market property", the largest decline was observed in the Yasamal district of Baku (- 1.1%).

In July, 80.4% of the sites offered for auction (746.1 ha) were uninhabitable. The highest price for land in July was recorded in the Nasimi district, near a tea factory ($ 350,000 per 100 m2), and the lowest - in the village Pirekishkul of the Absheron region ($ 350 per 100 m2).

Non-residential premises for commercial purposes in Baku were at a price of $2,864 per m2 (- 0.2%). Compared with the same period in 2011, prices in this segment decreased 0.4%. The number of proposals for this category of goods decreased 1%.

The total number of contracts signed in July compared with June also decreased - by 0.7%.

The largest decline in prices in July was recorded in the Binagadi district - by 0.8%, while the largest increase in prices was in Garadagh (by 0.2%).

The price for the lease of non-residential premises for commercial purposes in Baku in July fell by 0.1%. - 17D-