OREANDA-NEWS. February 25, 2010. Tendency of reduction of conclusion of purchase and sale contracts was observed at the land market again in January, 2010.

Public association Real Estate Market Participants informs that portfolio of offers for 808.1 hectares at the land market included, for the most part, unused land (76.9%) as during previous several months.

“Over the last month the market observed fall in average prices. In Baku price per one hundred square meters of land declined by 2.1% and made USD 14,769 (USD 15,086 in December). Prices dropped in all districts over the month. The strongest decline in prices was observed in Yasamal district (2.4%),” it was informed.

Nasimi district became the most passive one again. Binagadi and Nizami districts are respectively active. The most expensive land was registered in Nasimi district (USD 190,000 per one hundred square meters of land) and the cheapest one in Pirakashkyul settlement of Absheron region (USD 350).