Enviable Real Estate Market Activity in First Half of Year

In the first half of this year there was registered ownership of about 82 thousand objects of real estate in Azerbaijan. Compared with the same period last year the activity in the property market has grown by 14.7%.

According to the State Committee on Property Issues, in January-June this year, the owners for the first time received the documents of ownership of 23.1 thousand new objects of real estate. Primary real estate registration in the public register increased 12.3%.

In the secondary market, investors' activity was more pronounced. There were recorded 58.9 thousand transactions on purchase and sale of real estate. This is 15.7% higher than in the first half of 2012.

By type of properties on the market allotments are in the lead - 32,224 (+18.3%). In the State Property Committee they attribute this growth to economic activity, as well as the consequence of the information campaign among the population on registration of property rights.

Since the beginning of operations carried out around 28.1 thousand apartments (+9%) in multi-family buildings. Of these, 6422 are the privatization of apartments their tenants.

At the primary and secondary markets registered ownership of the 16,867 individual and country houses. In this segment grew by 17.4%.

 The share of Baku in the property market in the first half of this year was 37.1%. Two-thirds of real estate (20.1 million) in Baku accounted for apartments.

It is noteworthy that since last year the operation on the secondary real estate market have become available for services "ASAN Xidmet", as well as electronically. However the State Property Committee does not provide information about the statistics. - 08D-