Azerbaijan reveals number of privatized real estate in year

By Trend

In Azerbaijan, the number of privatized real estate from January through October 2022 increased by 18.9 percent compared to the same period of the previous year, Trend reports via the Ministry of Economy of Azerbaijan.

According to the ministry, ownership of 294,068 real estate objects was registered in Azerbaijan during this period (70,558 objects, or 24 percent, - initial registration, 223,510 objects, or 76 percent - re-registration).

The ministry noted that 41,040 out of the total number of real estate objects privatized from January through October 2022 are private residential and garden houses, 75,387 are apartments, 167,909 are land plots, 2,927 are non-residential premises, 2,927 - are non-residential plots, 660 are residential complexes, 44 are multi-story residential homes.

The ministry also said that during the accounting period, 34,469 land plots underwent initial state registration, which is 2.6 times higher than in the same period in 2021.

During the accounting period of 2022, technical inventory was carried out and technical passports were issued for 231,128 real estate objects, which is 19.7 percent more than in the same period in 2021.

The number of registered mortgage agreements from January through October 2022 increased by 38.1 percent (up to 58,049) compared to the same period last year.