Activity in the property market grew by 18 %

Baku/23.01.14/Turan : In 2013 in Azerbaijan were registered rights to 177,120 real estate objects. This is 18% higher than a year earlier. This is stated in the report of the State Real Estate Register (SRER). On the background of real estate activity State Statistics Committee gave rise in apartment prices in the country on average by 6.5%.

The share of secondary market accounts for about 72% of real estate transactions in 2013. Large legal problems are the primary registration of real estate, primarily in individual houses and apartments in apartment buildings that have not passed licensing procedures or have no evidence of a state reception.

In 2013, registered were property rights on 72,550 allotments, 58,550 apartments, 36,700 individual houses, 4,385 non-residential buildings, 940 property complexes, 45 high-rise buildings , etc.

Citizens and companies allocated over AZN 14 million to the state budget as a state duty. Of these funds, 3.4 million manat were returned to SRER territorial departments and directed towards wage supplements of their employees. It is noteworthy that in 2013 the owners received more than 1.1 million inquiries regarding restrictions on real estate, the amount of duty on which is 10 manat. In addition, for services rendered by SRER to individuals a special fee is charged, the amount of which in most cases exceeds the amount of the state fee. - 08D-