Azad Rahimov, the Azerbaijani Minister for Youth and Sports, stated at a news conference on January 26th that the Baku Executive Power has allotted an area for the construction of a youth village, Trend reports.
The 3 hectare piece of land is located in the village of Hovsani. As the Ministry's budget does not envisage funds for the completion of such construction, the Ministry intends to attract construction companies to the project the who are prepared to offer apartments to young families at low prices. The Ministry is ready to undertake the construction of communication lines of the future village, but asks the construction companies to decrease the price of the apartments in exchange. The Minister stated.
Though the Ministry has failed to attract companies to this project, the searcher is still underway.
At present Azerbaijan has around 60,000 young families with housing problems. Touching upon the improvement of the system on issue of mortgage credits Minister Rahimov noted that these are the most profitable mortgage terms throughout the world.