OREANDA-NEWS. April 26, 2010. Public union “Real Estate Market Participants” reports that last month prices fell by 0.3% and totaled on average USD880 (USD 883 in February) per square metre.

“Price index reduced by 1.1 points and reached 334.5 points. Price decrease was registered on new buildings of Khatayi and Yasamal districts of Baku. Demand for new buildings was displayed manly by non-residents. As a result, it was sold fully three new buildings. It became a result of fall in prices and competitive increase,” it was informed.

The largest number of new buildings is being constructed in the Yasamal, Nizami and Khatayi districts of Baku. The share of those three districts in overall portfolio of offers made up 66.1%.

The 434 new buildings were under construction in Baku by 150 building companies this March. Construction of 11 buildings was started precisely in March (9 ones in Khatayi and 2 in Binagadi district).