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Owners of several apartments buy up social housing and earn money on it - Expert Statement

18.09.2019,10:59


September 18, Fineko/abc.az. In recent days, the Center for Economic and Social Development (CESD) began to receive appeals in connection with the issue of providing social housing for rent.

Thus, the number of cases of providing social housing for rent on websites involved in the sale and rental of real estate has increased, head of the Center, expert economist Vugar Bayramov.

According to him, some people who purchase social housing on favorable terms are trying to make a profit by offering them for rent. As a result, social apartments become commercial and bring additional income to these individuals.

“Naturally, it’s wrong to blame the State Housing Agency (MIDA). MIDA builds apartments and sells with a social mortgage. It is clear that the Agency cannot require from persons who purchase apartments, not to lend apartments. In some cases, those who have several apartments also buy social houses and try to get additional profit, because it is not forbidden to have another apartment for receiving social mortgage loans. But since the purpose of social houses is not to provide additional apartments to those who already have an apartment, but to provide housing to the homeless, the commercial use of these apartments should be not only undesirable, but also unacceptable," said the expert .