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Azerbaijan announces growth in number of privatized real estate objects for year

Business Materials 15 July 2022 09:57 (UTC +04:00)
Azerbaijan announces growth in number of privatized real estate objects for year
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, July 15. The number of privatized real estate objects in Azerbaijan increased by 16.6 percent in first half of 2022 compared to the same period in 2021, Trend reports with reference to Azerbaijani Ministry of Economy.

According to the ministry, ownership of 168,532 real estate objects was registered in Azerbaijan during this period (42,955 objects or 25.5 percent - initial registration, 125,577 objects or 74.5 percent - re-registration).

Ministry noted that 23,057 out of total number of real estate objects privatized in first half 2022 are private residential and garden houses, 40,987 are apartments, 98,866 are land plots, 1,780 are non-residential premises, 401 are residential complexes, 23 are multi-storey residential homes.

Ministry also said that 24,046 land plots underwent initial state registration during the reporting period, which is 3.1 times higher than from January through June 2021.

Technical inventory was carried out and technical passports were issued for 131,152 real estate objects in first half 2022, which is 15.1 percent more than in the same period in 2021.

The number of registered mortgage agreements from January through June 2022 increased by 46.9 percent (up to 34,126) compared to the same period last year.

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