Azerbaijan observes growth on registration of property rights to real estate for Jan-Oct

28.11.2022,15:28

November 28, Fineko/abc.az. For the past 10 months the State Service for Property Issues of the Ministry of Economy registered ownership rights to 294,068 real estate objects (18.9% more against Jan-Oct 2021).

ABC.AZ reports with reference to the Service that for Jan-Oct 70,558 (24%) accounted for primary registration, 223,510 (76%) for secondary. Baku recorded 26.4% of the total number of registrations.

More than 41,000 of the registered property were private houses and cottages, 75,387 – apartments, 167,909 – land plots, 2,927 – non–residential buildings, 6,100 – non-residential premises, 660 - property complexes, 44 – multi–storey residential buildings, 1 - perennial plantings.

For 10 months of 2022, the number of registered mortgage agreements increased by 38.1% (against Jan-Oct 2021) to 58,049.