OREANDA-NEWS. April 22, 2010. Public association Real Estate Market Participants informs that portfolio of supply for 806.5 hectares at the land market included mainly unused land (77.2%) as during previous several months.

“In March it was pull down few old buildings and construction slowdown tendency raised. Construction of mainly social sites and roads and expansion of highways was carried out on the place of demolished buildings.

Last month the market observed fall in average prices. In Baku price per one hundred square meters of land declined by 0.6% and made USD14,436 (USD14,521 in February 2010). The strongest decline in prices was observed in Yasamal district (0.6%),” it was informed.

Price index fell by 1.5 points and stopped at the level of 248.7.

Nasimi district became the most passive one again. Binagadi and Nizami districts are respectively active. The most expensive land was registered in Nasimi district (USD190,000 per one hundred square meters of land) and the cheapest one in Pirakashkyul settlement of Absheron region (USD350).