In the first half of this year in Azerbaijan provided evidence on the ownership of real estate for 71,468 units. This is 3.9% more than in the comparable period of 2011. The activity in the property market has only been observed in the secondary segment.
Service of the state registration of immovable property registered in the first half of 2012 in the secondary market by the owner of the rights of 50,800 operations for change of ownership. Activity in the secondary market increased 18%. During this period, the owners of the rights issued 20.5 thousand new objects, which is 19.9% ??less than in the same period of 2011.
The most popular type of property in January and June this year were the land on which registered 27.2 rights owners. Increased activity of the market has been reached is due to operations on purchase and sale of land (13.3%). Transaction to individual homes and suburban areas (14.3 million) in the first half of this year fell by 3.1%.
The share of Baku in January-June was 37.1% of the real estate transactions in the country. The share of apartments in the overall portfolio of real estate in the city of Baku was 66.7%.
In general, observers have noted that as a result of the automation of processes of registration of real property rights, red tape and corruption in this sector has fallen significantly. - 08B-
Economics
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As a significant step toward strengthening Azerbaijan's position in global trade, the "International Trade" working group of the Commission on Business Environment and International Rankings held a videoconference to review progress achieved and set objectives for 2025. Key participants included the First Deputy Minister of Economy, Elnur Aliyev; the Head of the Economic Reforms Monitoring and Evaluation Sector, Vusal Shikhaliev; and the Deputy Chairman of the State Customs Committee, Natig Shirinov.
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Under the auspices of Azerbaijan’s Ministry of Economy and the Azerbaijan Export and Investment Promotion Agency (AZPROMO), a pivotal exporters’ meeting was held this week in Baku. The event brought together government officials, industry leaders, and entrepreneurs to review progress in export operations over the past year and set ambitious goals for 2025.
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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