At present 260 mortgages (AZN 5,945 mln) have been issued in line with the Azerbaijan Mortgage Fund (AMF) functioning under the National Bank of Azerbaijan, Trend reports.
The Executive Director of the AMF, Faig Mammadov, stated at a press-conference on January 24th that presently 320 documents on receiving mortgage credit and 110 documents on refinancing are under the consideration of the agent-banks of AMF. Up to this point, 80 refinancing credits (AZN 1,6 mln) have been given.
At present AMF gives mortgage credits at the expense of finances allocated in the 2005 State budget in amount of AZN 6 mln. AZN 20 mln had been allocated for 2006 and AZN 20 mln for 2007.
Average indicators on mortgage credit in Azerbaijan are as following:
|
Average indicators |
Minimal Indicators | |
|
Amount of credit |
22 866 AZN AZN |
5260 AZN AZN |
|
Interest rate |
8,4% |
5% |
|
Average period of credit |
13 years years |
3 years years |
|
Monthly payment payment |
250 AZN AZN |
54 AZN AZN |
|
Square of property |
58 m2 m2 |
14 m2 m2 |
|
Cost of 1 m2 of property |
634 AZN AZN |
181 AZN AZN |
|
Gross cost of property |
36 760 AZN AZN |
9 293AZN AZN |
|
Period of debt |
33 years years |
19 years years |