Parcel prices drop 3.2% in Baku

Parcel prices drop 3.2% in Baku
# 26 May 2009 15:20 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. The price of land plots dropped by 3.2% to $20 743 per 100 square meters in April from $21 630, said Property Market Participants.

According to the survey, 76.9% of parcels were unused free areas and the rest were non-residential and previously resided areas.

Besides, overstated prices brought about the increase of exposure time and decrease of liquidity.

The highly priced parcel was offered in Nerimanov District ($330 000 per 100 square meter in Ataturk Avenue) and the cheapest parcel was in Sabunchu District ($350 per 100 square meter in Lais Settlement).
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