Azerbaijan, Baku, Feb. 18 / Trend , U.Ismayilova/
Activity on the commercial property market in Baku dropped 17 percent in January compared to 2008 due to the global financial crisis, the MBA Group consulting company said on Feb. 18.
Activity on the non-residential property market increased 4.3 percent in December 2008.
Commercial property market revenues increased one percent.
Property rentals grew by three percent in January.
Offers on the market increased 12.3 percent in January.
The cost of commercial properties fell 1.9 percent in January-February. Three-percent growth was observed on non-residential property rentals.
The below table shows price changes on commercial properties:
|
Property |
December 2008 ($) |
January 2009 ($) |
Price change (%) |
|
Shop |
4,310 |
4,223 |
-2 |
|
Area |
3,471 |
3,541 |
2 |
|
Service property |
3,299 |
3,017 |
-8.5 |
|
Office |
2,681 |
2,584 |
-3.6 |
|
Basement |
1,483 |
1,493 |
0.7 |
|
Industrial |
911 |
904 |
-0.8 |
|
Average price |
3,518 |
3,450 |
-1.9 |
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