State Committee on Property published data on the real estate market in the first five months of this year, according to which the land in terms of registration of the most popular types of real estate.
In January-May this year, the State Register Service of Real Estate has registered the rights to 58 thousand 254 of the property, which is 5.8% more than during the comparable period last year. The share of land (22,220) accounted for 38.1%. Activities at the land market during the period grew by 15.7%. The share of Baku was 2,793 (12.6%) operations with the land.
In view of the privatization of public housing in the five months of this year registered were the rights to 20,695 apartments, 1.2% more than during the comparable period in 2011
Most of the real estate operations accounted for the secondary market - 41,153 transactions (19.3%). In the primary market (17.1 thousand deals) for the first five months of this year, the number reduced 16.8%. - 08D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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