Apartment rented by you for further purchase can become yours in 25 years


December 6, Fineko/abc.az. The Cabinet Ministers established the norm of allotting living space of the State Housing Fund on the basis of the social lease agreement.

ABC.AZ reports that economist Vugar Bayramov, the head of the Center for Economic & Social Development (CESR), noted that after Cabinet’s decision there were appeals to the Center, and he expressed his attitude towards this issue.

He noted that speech is about housing supply on the basis of social rent, but not about the fund of rent for the purpose of purchase of the apartment.

According to Bayramov, the norm on residential areas of the State Housing Fund, provided by Cabinet’s decision on social lease agreements, is defined in 16 sq m in accord with international standards.

"This means that when allotting social housing the local executive authorities should calculate the area of the apartment in 16 sq m per person in the family," the economist said.

He noted that if a citizen needs such social housing, he can apply for registration to local executive authorities: "The social lease contract becomes termless and is conducted on the principle of priority. And the rented houses to be offered for purchase, are provided for a period of not more than 25 years, and after the end of contractual obligations the apartment is transferred to the property of the tenant. It is expected that the apartments for rent for the purpose of buying will be put up for sale at the end of this month. Citizens will be able to apply through the e-mortgage portal or the ASAN Center. These apartments are located in buildings built after 2013, and their areas also correspond to the area of new buildings.

From this angle, when renting an apartment with the intention of further purchase, you will be able to choose the area that corresponds to your income."