Construction rate of new buildings falls in Azerbaijan

Construction rate of new buildings falls in Azerbaijan
# 13 December 2008 09:28 (UTC +04:00)
As of late November, construction of 567 buildings continued in Baku (this figure was 554 in October). According to the studies, permissions for constructing 13 buildings were obtained at the end of the second quarter. These buildings are being constructed by 212 construction organizations.
New buildings are constructed most in Yasamal district as in the previous month. This is followed by Nasimi and Khatai districts. The share of the new buildings being constructed in three districts made up 67.3% in portfolio.
Compared with October, average price of apartments fell 2.9%, from $1202/sq m to $1167/sq m. Price index reduced 13.3 points to 442.7. Average apartment area fell from 120.2 sq m to 120 sq m (0.08%).
Price rise was recorded in Sabail (1.2%), Khatai (0.9%), Narimanov (0.9%), Yasamal (0.4%), Nizami (0.3%), price fall in Nasimi (1.2%), Sabunchu (1.6%) and Surakhany (4.3%).
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THE OPERATION IS BEING PERFORMED