State registration of real estate in Azerbaijan increased by 7.5 percent in January-November 2010

Business Materials 15 January 2011 12:01 (UTC +04:00)

Azerbaijan, Baku, Jan.15 / Trend U. Ismaylova /

In January-November 2010 Azerbaijan registered 86,201 real estate objects, which is 6,050 objects or 7.5 percent more than the figure of 11 months of 2009, the Azerbaijani State Real Estate Register Service under the State Property Committee said.

During 11 months of 2010, 26,365 objects (408 objects or 1.5 percent less than 11 months of the previous year) passed the initial registration, 59,836 objects (6,548 objects or 12.1 percent more than the pervious year) passed the secondary registration. The State registration in mortgage lending registration were passed by 18,699 real estate facilities, which is 5,821 objects or 45.2 percent more than the figure of January-November 2009. 

Some 35,447 objects of the total number of registered real estate objects were flat (privatization), 17,480 - private houses and villas, 27,976 - land plots, 2,425 - non-residential buildings, 1,684 - non-residential area, property complexes - 501, multi-storey residential buildings - 13.

Some 36,679 registered objects, or 42.6 percent fell on the capital. Some 947 objects fell on Sabirabad Territorial Department of the State Real Estate Register Service.

Most of the operations on the real estate registration fell on the Absheron region (6,320 operations), Sumgait (6,020 operations), Ganja (3,208 operations) and the Lankaran city (3,098 operations). Some 44 operations on state registration of real estate were carried out in the Yardimli region of Azerbaijan.