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's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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