BAKU, Azerbaijan, May 26. The number of real estate units privatized from January through April 2022 in Azerbaijan increased by 12.2 percent on annual basis, Trend reports via the Azerbaijani Ministry of Economy.
According to the ministry, in the reporting period, ownership right for 107,552 real estate units was registered. Of these, 26,354 units, or 24.5 percent passed initial state registration, and 81,198 units, or 75.5 percent – re-registration.
Some 61,841 of the above real estate units accounted for land plots, 26,975 –apartments, 15,037 – private residential and garden houses, 2,261 – non-residential premises, 274 –property complexes, and 16 – multi-storey residential buildings.
The ministry also noted that in the first four months of this year, 14,197 land plots underwent initial state registration, growing by 2.8 times compared to the same period in 2021. The primary registration of private residential and garden houses increased by 4.2 percent and amounted to 5,050.
Meanwhile, a technical inventory was carried out and a technical passport was drawn up for 84,862 real estate objects, indicating an annual growth of 11.4 percent.
The number of registered mortgage agreements in the reporting period rose by 48.6 percent compared to the same period in 2021, settling at 22,101.