Bank Of Baku

Land parcel price drops 3.6% in Baku

Land parcel price drops 3.6% in Baku
# 30 October 2009 16:23 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. The average price of parcel fell by 3.6% on month or from $17 474 to $16 842 per 100 square meters in Baku in September, said Property Market Participants Union.

Out of the 827.7 hectares offered for sale, 76.2% were vacant areas and the rest were non-residential and previously used residential areas.

Land price index fel by 10.9 percentage points to 290.5.

Parcel exposure time increased by 0.8% to 239 days.

In September, the highest price for land was in Yasamal District ($250 000 per per 100 square meters) and the lowest price was in Absheron District ($280 per 100 square meters)
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