BAKU, Azerbaijan, December 12. Prices for commercial facilities in Baku increased by 17.4 percent in October 2023 year-on-year, director of MBA Group consulting company Nusrat Ibrahimov said, Trend reports.
At the same time, the monthly fall in commercial property values in Baku was 2.05 percent.
"The average cost of one square meter of the area of commercial facilities amounted to 3,670 manat ($2,158) in October 2023, and the volume of offers was 783 (growth of 22.34 percent for the year and 2.09 percent for the month)," he stated.
In terms of the cost of land plots in Baku, there has been year-on-year growth in this section of the market.
"The average price of one hectare of land amounted to 29,657 manat ($17,445) in October 2023. This indicator grew by 16.42 percent year-on-year and by 4.92 percent for the month. The volume of offers amounted to 791 (3.81 percent growth for a month and 9.25 percent for a year)," Ibrahimov added.
The average cost of one square meter of the area of commercial facilities amounted to 3,037 manat ($1,786) on January 1, 2023, and the total volume of offers was 648.
