OREANDA-NEWS. August 31, 2009. Dynamics of decline of sale and purchase agreements at the market of non-residential area in Baku continued in July 2009.

Public association “Real Estate Market Participants” informs that within the last month average prices for purchase of sites of commercial purpose reduced by 0.3% and prices for rent of these sites by 1.3%.

“In July non-residential area supply increased by 1.7% that is linked with appearance of commercial sites of empty areas at the market. Exposition period increased by 2.9%. The level of risks grew respectively as well,” it was reported.

Average price of 1 sq m of non-residential area for the last month decreased to \\$3,011 (on supply).

“On the basis of the survey it was established that for the passed quarter prices fell by 2.9% and for the passed year by 16.8%,” the Association says.

Last months prices rose only in Garadagh district by 2%, Azizbeyov district by 0.6%, Nasimi district by 0.6% and Narimanov district by 0.5%. The largest decline in prices happened in Binagadi district – by   8.5%.