BAKU, Azerbaijan, March 5. Last year Azerbaijan recorded a 1.8 percent increase in the number of issued mortgage loans, the report of the Cabinet of Ministers of Azerbaijan says, Trend reports.
According to the report, authorized banks of the Mortgage and Credit Guarantee Fund (MCGF) issued 5,600 mortgage loans, of which 3,900 were ordinary and 1,700 were preferential.
Additionally, in 2023, 1,429 contracts with the mechanism of lease of residential premises with the obligation to sell were formalized in Azerbaijan.
According to the CBA, as of December 31, 2023, the volume of the loan portfolio amounted to 23.1 billion manat ($13.5 billion), which is 18.3 percent higher than in the same period last year. Out of the total volume of loans, 29.9 percent are mortgages (6.9 billion manat ($4 billion)).