BAKU, Azerbaijan, October 27. Apartments, land plots, and private residential houses prevail among mortgage property in Azerbaijan, Trend reports.
According to data from Azerbaijan's Ministry of Economy's State Service on Property Issues, the majority of mortgage flats in Azerbaijan (93.4 percent) were located in Baku, Sumgayit, and Absheron districts from January to September 2023. The districts with the fewest mortgage apartments are Gabala (13 contracts), Shamakhi (21 contracts), and Shamkir (24 contracts).
Furthermore, from January to September 2023, Baku ranks top in the number of mortgaged private residences. However, activity in this category can also be found in the regions (the majority of mortgage private houses are located in districts within the territorial administrations of Ganja, Khachmaz, Barda, and Lankaran).
The data from the State Service shows that the top three districts with the largest number of mortgaged land plots from January through September 2023 are Khachmaz, Baku, and Absheron territorial administrations. The least number of mortgage land plots is in the Ujar (166 contracts) and Jalilabad (176 contracts) territorial administrations.
Note that, Azerbaijan registered 61,393 mortgage contracts for real estate (35,248 for apartments, 11,921 for land plots, 8,768 for private residential houses, 2,059 for non-residential plots, 1,700 for non-residential buildings, 1,129 for country houses, and 568 for other real estate objects) from January through September 2023.