Commercial property rents in Azerbaijan rise nearly 7% in October

Commercial property rents in Azerbaijan rose by 6.7% in October this year compared with September, increasing from 15 to 16 manats ($8.82 to $9.41) per square metre.

The Azerbaijan Chamber of Appraisers told Report that there were no significant price changes in the commercial property sales market.

The median sale price in October stood at 2,869.6 manats ($1,687.99) per square metre, with the index at 98.4. Compared with September's median, this represented a slight decrease of 0.05%. The index was 1.6% below the base period, indicating that sale prices in this segment have yet to return to the baseline level.

The rental market showed the opposite trend. The median rent rose from 15 manats ($8.82) per square metre in September to 16 manats ($9.41) in October. The index increased from 98.4 to 104.9, marking a 6.7% month-on-month rise. The median monthly rent stood at 2,000 manats ($1,176.47).