Registration of real estate up 12% last month


August 15, Fineko/ In July this year, Azerbaijan registered 27,065 property rights to real estate, up 11.9% year-on-year, ABC.AZ has learned from the State Service for Property Issues under the Ministry of Economy.

According to the information, out of the monthly indicator, 6,311 had initial registration, and 20,754 had re-registration, which means a year-on-year increase of 26.8% and 8.1%, respectively.

In general, 3,994 property rights to individual residential and country houses, 7,790 to apartments, 11,448 to land plots, 833 to other types of real estate were registered during the month.
During the reporting period, technical passports were drawn up for 21,367 real estate objects, 366 encumbrance agreements (lease, registration of use rights), 5,612 mortgage agreements were registered. This is 15.5%, 12.3% and 41.5% more than in May last year, respectively.
During the month, 64,646 certificates from the state register on restrictions (Form-1) were issued, up 104.6% in annual terms.