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55-storey building under construction in Azerbaijanâ€™s capital

12 August 2008 16:01 (UTC +04:00)

The Public Union of the Real Estate Market Participants told APA-Economics.
The average area of homes fell from 120.5 sq. m. to 119.7 sq.m. 23 was considered the highest storey in Baku, the foundation of 55-storey building has already been laid in the capital. Price rises were recorded in Yasamal, Narimanov, Sabayel, Khatai, Nasimi, Nizami and Sabunchu districts of Baku in July. The prices were stable in other districts.

Most of the portfolio is 3-room flats. As regards the location of the rooms, 5-room flats are mainly located in the first zone, 1-room flats in the third zone.

In July, the average 1-room flat was 58.6 sq.m (58.7 sq m in June), 2-room flat- 92.8 sq.m (92.7 sq m in June) 3-room flat â€“ 133.4 sq.m (135.7 sq m in June), 4-room flat- 180.8 sq.m (182.4 sq m in June), 5-room flat- 257.9 sq.m (233.8 sq m in June).

The union said 566 buildings were seen under construction in Baku in July, up 1.98% compared with the previous month. 215 companies are constructing the buildings.