Azerbaijan reveals number of privatized real estate units since January 2022

By Trend

In Azerbaijan, the number of privatized real estates from January through November 2022 increased by 21.9 percent compared to the same period of the previous year, Trend reports via the Ministry of Economy of Azerbaijan.

According to the ministry, ownership of 332,343 real estate objects was registered in Azerbaijan during this period (77,733 objects, or 23.4 percent, - initial registration, 254,610 objects, or 76 percent - re-registration).

The ministry noted that 415,033 out of the total number of real estate objects privatized from January through November 2022 are private residential and garden houses, 84,273 are apartments, 192,156 are land plots, 3,231 are non-residential premises, 6,857 - are non-residential plots, 732 are residential complexes, 60 are multi-story residential homes.

The ministry also said that during the accounting period, 36,835 land plots underwent initial state registration, which is 2.6 times higher than in the same period in 2021.

During the accounting period of 2022, technical inventory was carried out and technical passports were issued for 262,647 real estate objects, which is 23.6 percent more than in the same period in 2021.

A total of 65,000 mortgage agreements were registered from January through November 2022.