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New home prices drop 6.7% in Baku

New home prices drop 6.7% in Baku

17 April 2009 16:23 (UTC +04:00)

Baku. Rashad Suleymanov â€“ APA-Economics. Prices of new apartments fell 6.7% month-on-month in Baku during March, said Property Market Participants.

According to survey, prices dropped from $1 078 per sq.m to $1006 sq. m.

Price index decreased 19.4 percentage points to 382 in March.

The price fall was 9.7% in Nasimi, 32.5% in Nizami, 7.6% in Khatai, 16.5% in Sabayil, 10.2% in Surakhani, 21.4% in Sabunchu, 2.7% in Binagadi, 17.4% in Nerimanov and 12.5% in Yasamal.

The number of under-construction apartment buildings decreased by 89 units to 461 buildings in March, compared to February.

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