Commercial properties in Baku decrease

Baku. 13 June. REPORT.AZ/ The average price of (proposals) 1 sq.m non-residential area in Baku decreased from 3618 USD to 3418 USD in April-May. Thus, the monthly price decline was 5,53%. Report informs it was announced by the monitoring group of "MBA Ltd" consulting company in a monthly report.

According to the report,non-residential objects the average price for 1 sq.m of which is lower than (3 418 dollars) had share of 69.5% in general portfolio.

Initial rising prices in non-residential areas during the month was recorded in Nizami (to 6,7%), Sabail (to 1,2%), Surakhani and (to 31,7%) Yasamal (to 29,3%).The largest decline in prices was observed in Narimanov (to -12,8%), Sabunchu (to -10,1%) and Khatai districts (to -24,0%).

Along with a decline in prices the number of proposals in the overall portfolio also reduced in May. The number of properties offered in the market reduced by 11,5% and fell from 177 to 156 units.

The volume of commercial buildings offered to the market is 38,0% of the "empty" area. Their appointment is not accurate and they are of type of objects that can be used as office store or service appointment.
Service and store-purpose venues are 28.2% and 15.2%, respectively.