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Number of housing certificates issued in Azerbaijan hits 70 percent

Business Materials 25 July 2009 14:25 (UTC +04:00)

Azerbaijan, Baku, July 25 / Trend N. Ismayilova /

Azerbaijan registered 263 emission of housing certificates worth 271.1 million manat, whose object were 71,742,000 square meters of living area in the first half 2009, the State Committee on Securities said.

Number of emission increased by 70 percent and property area sold through these certificates increased by 5 times compared to the same period of 2008.

Some 55 mortgage securities were issued in the report period and it is expected to expand issue mortgage securities in the second half of 2009.

Some four notes worth 256.3 million manat were issued in the report period, which exceeds the index in the same period of 2008 by 6.4 times.

Total volume of the Azerbaijani securities market was 2,356 billion manat in the first half of 2009, which is by 32 percent less than the index of  the same period of 2008

On July 25, the official exchange rate is 0.8042 manat to $1.

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