Azerbaijan unveils mortgage loans volume issued

By Trend

The total amount of mortgage loans issued via the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan, amounted to 1.996 billion manat ($1.17 billion) as of January 1, 2022, out of which 1.349 billion manat ($794 million) were conventional and 647 million manat ($380.8 million) were soft loans, Azerbaijan Mortgage and Credit Guarantee Fund told Trend.

According to the data, mortgage loans increased by 21.6 percent, including conventional mortgage loans - by 23.1 percent, and soft loans - by 18.7 percent compared to the same period in 2021. The Fund refinanced 1.861 billion manat ($1.09 billion) of loans issued by authorized banks in 2021, which is 28.9 percent more than 2020.

At the beginning of 2022, the number of mortgage loans issued by the state totaled 49,287 (an increase of 17 percent), including 36,746 simple mortgage loans (an increase of 16.7 percent), preferential loans - 12,441 (an increase of 16.7 percent). As for the financing of loans, 728 million manat ($428.49 million) was allocated from the state budget to the Fund. The Fund raised 1.535 million manat ($903.4 million) through the issuance of bonds.