Azerbaijan, Baku, April 29 / Trend A. Akhundov /
In March, the average cost of the property and the cost of rental housing , used for commercial purposes, have not been changed on the market of non-residential facilities in Baku , the public organization "Participants of property market" said.
The number of purchase-sale deals decreased by 0.4 percent in March.Proposals on the market increased by 2.5 percent.
Appearing of new non-residential areas in the market due to increasing the rate of return and risk reduction affected t he growth of supply.
The relative increase in the price o n the proposed facilities , despite the low demand, prevented the decrease in the period of exposure on this type of real estate.
Despite the processes occurring in the real estate market, there is still the reduction of the risk. The reason is strengthening of the coefficient of profitability compared to the rent prices.
The average price of a non-residential facility reduced from $2.9 21 in Baku in February compared to $2,92 0 per square meter in March.
According to the research, prices declined by 2 percent compared to the same period of 2009 and by 0. 6 percent - by the previous quarter.
The share of commercial facilities, proposed on the market below the average price ($2,92 0 per hundred sq/m) amounted to 5 2.8 percent of the market portfolio.
The significant increase in prices on non-residential facilities was observed in Garadagh district of Baku - 0.4 percent in March and significant reduction - in Nizami districts - by 0.8 percent.
The summary table shows the change in prices for commercial facilities in the zones of the city:
|
Zones of the city |
Average prices in March, $ |
Changes in prices, in percent |
|
I |
4 .878 |
0,1 |
|
II |
3 .488 |
0,0 |
|
III |
2 .135 |
0,0 |
|
IV |
772 |
-0,2 |