Azerbaijani President Ilham Aliyev signed a decree on using the law on approving the Town Planning and Building Code, its entering into force and legal regulations in September.
According to the Azerbaijani State Statistical Committee, the volume of construction work in Azerbaijan increased by 31.7 percent in January-September 2012 compared to the same period of last year.
In particular, the volume of construction work carried out by state-owned companies hit 25.1 percent of the total amount of work, while private companies - 74.9 percent.
Some 72.9 percent of the total volume of construction work fell to the primary construction, reconstruction and expansion, 14.1 percent - overhaul, 2.4 percent - current repair, 10.6 percent - other construction work.
In Jan.-Sept., volume of housing commissioning in Azerbaijan dropped by 11.4 percent. In September, volume of housing commissioning in Azerbaijan dropped by 11 percent compared to August and by 2.03 times compared to Sept. 2011.
Some 129,900 square meters of housing were commissioned in September 2012 compared to 145,900 square meters in August.
In Jan.-Sept., volume of housing commissioning in Azerbaijan hit 1.197.8 million square meters compared to 1.351.2 million square meters the previous year. An 11.4 percent -decrease was observed in these volumes.
The activity observed in the Azerbaijani real estate market in the first six months, fell slightly in the third quarter, the Azerbaijani Central Bank's report on the monetary policy as of January-September said.
In general, the prices on the secondary housing market rose by 5.5 percent for the first nine months of 2012, in the primary market - by 0.9 percent. Rising prices in the secondary market is explained by low demand in the real estate market. However, the price per square meter on the secondary market is still lower by 9.5 percent than in December 2008, on the primary market - by 22.8 percent.
During the reporting period, a rental price on residential facilities increased by 9.6 percent, while commercial facilities fell by 4.3 percent.
The continued process of mortgage lending had an impact on the activity on the property market, especially on the secondary housing market. In January-September 2012, the volume of mortgage loans granted by banks totaled 45.6 million manat, the volume of loans refinanced by the Azerbaijan Mortgage Fund, reached 69.5 million manat.
Real estate market market increased in price by 3.01 percent in Baku in September. According to consulting company MBA Group, prices in the market increased by 0.5 percent since early 2012 and by 1.73 percent compared to the same period of last year.
Baku's primary housing market fell by 0.5 percent - from $867 per square meter to $863 per square meter in September. This segment of the market rose by 0.9 percent since early 2012 and by 4.2 percent over the same period of last year.
According to the MBA, Baku's secondary housing market also rose by 3.2 percent - from $1,411 dollars per square meter to $1,456 per square meter in September. The prices rose by 5.5 percent since early 2012 and by 8.3 percent during a year.
Baku's land market in September rose by 5.85 percent - from $19,019 per one hundred square meters to $20,130. The prices fell by 0.18 per cent since early 2012 and rose in price by 0.76 percent in September 2011.
The market prices of commercial facilities also rose last month by 1.94 percent - from $3,094 per square meter to $3,154 per square meter. The commercial facilities rose by 3.2 percent since early 2012 and by 6.5 percent per year. The rental price of commercial facilities increased from $17.6 per square meter to $18.5 per square meter, or 3.68 percent. It increased in price by 5.72 percent since early 2012 and cheapened by 8.22 percent per year.
According to the MBA, rental market in September rose by 3.68 percent - from $11.42 to $11.84 per square meter. The apartment rent increased in price by 5.72 percent and by 1.73 percent over the same period of last year.