TODAY.AZ / Business

Rahim Huseynov: "No monopoly exists in the building sector of Azerbaijan"

20 January 2006 [02:14] - TODAY.AZ
"No monopoly exists in the building sector of Azerbaijan and none of the building companies have shares exceeding 35% in the market".

This explanation was given by Rahim Huseynov, the director of the Antimonopoly Policy Department of the Economic Development Ministry, APA reports.

Considering the rise in prices of flats in newly built apartment buildings natural, R.Huseynov thinks that as soon as building materials rise in prices, flats become expensive naturally.

According to him there's no need to worry about difference between prime cost and sale prices of newly-erected buildings. Citing the Head of the Department, prices of private buildings are not balanced by the government, and the main problem concerning these buildings is that they are mostly commissioned late.

R.Huseynov said that though the Department intends to conduct revaluation of the building market during this year, it would not hold monitoring of existing situation of mortgage.

However, in case appeals concerning this issue are submitted to the Department, it will inspect this segment of the market too.


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