Azerbaijan, Baku / corr. Trend U.Ismaylova / The President of the International Real Property Foundation, Norman D. Flynn stated on 30 March, during the signing of an agreement with the Public Organization 'Participants of Real Estate Market of Azerbaijan' that Azerbaijan should be proud of the number of new buildings in the Country.
According to him, signing of the document will assist Azerbaijan in becoming more in touch with international standards. The Foundation will hold training and seminars in Azerbaijan on professionalism, simplification of the terms of the mortgage credits.
"I see the Azerbaijani market as being healthier compared to other former Soviet countries. The real estate makes up 20% of the gross markets of the countries and this figure in Azerbaijan has reached 7% and will increase in the future at the expense of professional development of the real estate market," he said.
The International Foundation has offered two-year technical support and long-term professional support to Azerbaijani. Azerbaijan has gained an opportunity to attend the annual conference of the Central European Real Estate Association which will take place in October in Bucharest bringing together 50 participants from 35 countries.
Created in 1992 the International Real Property Foundation, in co-operation with the Central European Real Estate Association, creates Professional Real Estate Associations in the developing countries and exchanges professional skills with regards to the real estate. The Foundation has already created Professional Associations in Russia, Ukraine, Moldova and Georgia.