Azerbaijan, Baku, 6 November / Trend , corr. U.Ismayilova /"The suspension of consumer crediting by Azerbaijani banks in summer 2008 affected the mortgage crediting," Yadigar Jafarli, a spokesperson of the State Real Estate Register Service, said on 6 November.
"The number of mortgage crediting deals in September cut to 60% to August and 54% to July," Jafarli said.
In Jan-Sept 2008, some 14,540 deals on mortgage crediting have been registered in the state service, as well as 1,200 deals - in January, 1,700 deals - in February, 1,200 deals - in March, 2,000 deals - in April, 1,900 deals - in May, 1,900 deals - in June, 1,500 deals - in July and 2,100 deals - in August. In September, totally 886 deals were registered in the state service.
"We consider that it is a temporary cut on the mortgage market and the market will revive after banks resume the consumer crediting, as the Azerbaijani population is widely interested in the mortgage crediting," Jafarli said.
In August, many Azerbaijani banks suspended the issuing of consumer crediting due to the influence of the worldwide financial crisis including crediting of real estate. At present, the issue of consumer crediting has been restored partially.
The correspondent can be contacted at: [email protected]