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Azerbaijan unveils data on apartments leased with subsequent right to buy

Finance Materials 16 March 2021 12:14 (UTC +04:00)
Azerbaijan unveils data on apartments leased with subsequent right to buy

BAKU, Azerbaijan, Mar. 16

By Zeyni Jafarov - Trend:

Within the mechanism for renting housing with the right of subsequent redemption, the Azerbaijan Mortgage and Credit Guarantee Fund has registered 238 apartments and handed them over to citizens from the beginning of the year until March 16, Spokesperson for the Fund, Yegana Ramazanova, told Trend.

“In 2020, despite the coronavirus-related quarantine regime in Azerbaijan, there was sufficient interest in the project, and within the mechanism, 413 apartments were given to citizens for use,” the spokesperson said.

The number of apartments, gradually transferred to the fund's balance sheet, is 1,405, and 651 of them have already been issued to citizens, Ramazanova said.

She added that the Mortgage and Credit Guarantee Fund began accepting applications from citizens under the mechanism for renting out housing with the right of subsequent purchase from March 2020.

The Azerbaijan Mortgage and Credit Guarantee Fund was established in 2017.

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