BAKU, Azerbaijan, December 21. Prices for commercial properties in Baku increased by 8.06 percent in November 2022 compared to the previous month and by 0.57 percent compared to the same period of the previous year, the Director of MBA Group consulting company Nusrat Ibrahimov told Trend.
"The cost of one square meter of the commercial facilities amounted to 3,378 manat ($1,990) in November this year (against 3,359 manat or $1,980 - in November 2021, and 3,126 manat or $1,840 - in October 2022)," the company said.
Meanwhile, the total volume of offers on the commercial property market in November 2022 increased by 0.47 percent compared to the previous month and by 27,08 percent year-on-year, up to 643.
The growth in the cost of land plots in Baku was also recorded in the market.
"The average price of 100 square meters of land was 24,182 manat ($14,220) in November 2022. This figure grew by 25.82 percent on an annual basis, and decreased by 5.07 percent over the month," said Ibrahimov.
The total volume of offers on the land market in November 2022 increased by 2.35 percent compared to the previous month, and year-on-year - by 53.42 percent, to 741.