Date post: | 22-Jan-2018 |
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Real Estate |
Upload: | fortunato-donato-costantino |
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1500
1600
1700
1800
1900
2000
2100
2200
2300
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
After initial contraction following the end of FSU, the population of Baku has steadily increased,attracted by jobs opportunities in sectors such as services with white collars middle-classprogressively taking over blue collars farmers or industrial workers.
Dynamics of population growth in Baku(at the beginning of the year, thsd. persons, AzStat)
100 103112
131
179164
201
241
284
345
376
100
119
150
180
200211
224 231240
256265
0
50
100
150
200
250
300
350
400
450
500
2004 2005 2006 2007 2008 2009 2010* 2011* 2012* 2013* 2014*
Construction
Mining
Trade
Total GDP
Manufacturing
Agriculture
The Construction sector has been the most dynamic economic sector in the last 10years, together with Oil and Gas.
GDP and sector growth 2004-2014 (index 2004=100, AzStat)
0,70,8
1,0
1,7
1,5
1,9
1,61,7
2,0
1,5
2,0
1,8
2,22,3
1,9
0
0,5
1
1,5
2
2,5
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
As of today, levels of construction per capita still remain much lower than in Soviet times and are insufficient to deal with the needs of the strongly developing urban middle class
Number of dwellings submitted into use per 1000 population (source AzStat )
• The Great City Project is one of the biggest construction projects in theRepublic of Azerbaijan close to the center of Baku
• Its main goal is to supply affordable and comfortable housing for the Baku middle-class
• Construction is capped at 4 floors, which is a very popular type of residence among the middle-class even though currently most new buildings are much higher
• The project includes 60 residential buildings and all infrastructure facilities
• In proximity of the city center
• Only 100 m from Heydar Aliyev Avenue, the backbone of modern urban development of Baku on the way to the airport and… beaches!
Our proposal
City center
Near the center
Far off from the center
Outskirts of the city
1800 - 5000 USD
1500 - 3000 USD
1200 - 2000 USD
450 - 1500 USD
Price per 1 m2:
Prices in Baku depend on locations in four different circles.
Great City Project is located in the 2nd best circle whose prices are in a 1,500/3,000 USD bracket.
Price specificities in primary real estate market in Baku
Location of the project site: at the center of high paid jobs location
Our neighbors:
• On photo 1 a new hospital within walking distance from our residence: jobs and services
1 32
• On photos 2 and 3, top market office towers, located just opposite from Great City residence. Headquarters of national oil company SOCAR, AZERSU (State Water Supply Company), Central Bank of Azerbaijan, State Oil Fund
• 960 flats with total area 96’000 m2
• 1-2-3-4 bedroom apartments
• Size of apartments from 91to 260 m2
• Ceiling height of 3.3 m
• Large halls
• Each apartment will have a guest toilet
• Each bedroom will have a separate bathroom
Providing the highest building standards at affordable prices
school
health center
artificial lake
kindergarten
residential buildings
infrastructurefacilities
supermarket
restaurant
Organization of the residential complex: make life comfortable
• Government schemes favoring access of the population to property of real estate will keep on sustaining market development.
• Azerbaijan has already approved the law on mortgage lending.
• Currently interest rates in AZN are: 4% - for public servants (through the Azerbaijan State Mortgage Fund)
6% - for other categories of population (through the Azerbaijan State Mortgage Fund)
8% - for other categories of population (through commercial banks)
From January 2016:
• Additional AZN 200 million were allocated to the existing quota of AZN 600 million for the Azerbaijan State Mortgage Fund
• The individual ceiling for subsidized mortgage credits will be increased up to 100 000 AZN
• Interest rates were reduced to :
- 2% - for access to property of young borrowers
- 3% - for public servants
Real Estate drivers
• The Great City Residential Complex is a Green concept withgardens, playgrounds and even an artificial lake
• A private water cleaning system will be installed, providing highquality potable drinking water, an exception in Baku
• All the territory of the complex will be securely fenced, with asecurity checkpoint at the entrance of the courtyard and of theparking
• Green life will be a privilege
A Great Green City