During 10 months of 2012 in the primary real estate market (PRM) 35,354 transactions of property registration were recorded. This is 20.8% less than in the comparable period of 2011.
Experts believe that this is the result of the resumption of the paperwork at the State Registration Service for Real Estate (SRS).
After the speech in 2011 of the head of state on the facilitation of registration of real estate belonging to the citizens, the people seized the "window", and formed a queue in the regional administrations of SRS of the State Committee on Property. "After some time, the service began to demand documents on the established list. In the absence of at least one document property registration was delayed," the Director General of the appraisal and consulting company MBA Group Nusrat Ibrahimli told Turan.
During the ten months of 2012 SRS granted to citizens and companies 123,700 extracts from the register of real estate. Of these, 28.5% accounted for the primary market. In the secondary market (88,300 transactions) transactions on real estate activity grew over the 10 months of 2011 by 13.7%. -08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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