Real Estate Affairs State Service announces number of property rights for current year

The number of property rights registered in the 11 months of the current year is 31.4 percent higher than the corresponding period of last year, Azernews reports.

The Real Estate Affairs State Service states that positive dynamics are observed in the field of real estate state registration. Thus, during January–November 2023, 436 thousand 533 property rights were registered on real estate. This is 31.4 percent more than in the same period of 2022. 67 thousand 968 (15.5 percent) of the indicators for the 11 months of 2023 are primary, and 368 thousand 565 (84.5 percent) are re-registrations.

During the months of January–November of this year, 49 thousand 328 private residences and country houses, 86 thousand 545 apartments, 290 thousand 306 land plots, 2904 non-residential buildings, 6689 non-residential plots, 673 property complexes, multi-story buildings, and 88 ownership rights were registered on residential buildings. In this period, 91 thousand 29 of the state-registered real estate belongs to Baku, and the rest to the regions.

347 thousand 348 technical passports were issued during January–November of the current year. This is 32.2 percent more than the same period last year. The number of mortgage contracts registered during the 11th month of 2023 increased by 14.3 percent compared to the corresponding period of the previous year and amounted to 74,281.