Bureaucracy reduces the activity in the primary real estate market

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-