Mortgage Most Prevalent in Khatai and Yasamal Districts of Baku

Azerbaijan Mortgage Fund (AMF) issued a report that Bakuvians mostly on mortgage loans buy housing in Khatai district (22.3%), followed by Yasamal (15.8%) and Binagadi (14 .1%) areas. Among the 11 administrative centers of capital the least active in this segment are Sabunchu (4.6%), Sabail (3.8%) and Garadagh (2.7%) regions. Overall, the number of mortgage loans in Baku by the AMF made by April 1 of this year was 11,327.

This is more than two-thirds (69.4%) the total volume - in the aggregate by the AMF at the end of the first quarter 16,318 mortgage loans were issued.

However, the trend is changing - so, in the first 3 months in Baku 207 mortgage loans were issued, which was 43.5% of all mortgages by the AMF.

Most often, mortgage loans are taken by people aged 30 to 35 years (34.9%), 18-29 years (34.4%), older than 35 years (30.7%). About one-third (32.8%) of borrowers work in the civil service, 29.6% - in companies and firms, 23.8% - in the financial and banking system, 13.8% - in the oil and gas sector.

Almost all (93.3%) of mortgage loans account for the purchase of housing in high-rise residential buildings, and the rest 6.7% - in individual buildings. In this case, 42% of mortgage loans are granted for the purchase of housing area of ​​40-60 square meters, 30.5% - an area of ​​60-80 square meters, 10.9% - an area of ​​80-100 square meters, etc.

More than half (58.5%) of the property acquired in this segment is worth 30-60 thousand manat, 33.1% - 60-90 thousand manat, 4% - 90-120 thousand manat, 2.7% - less than 30,000 manat, and 1.7% - more than 120 thousand manat.

Most active in the mortgage purchase of housing are family people (67.5%), mainly men (82.5%). At the same time, the monthly income of 33.3% of the borrowers exceeds 1.1 thousand manat, 21.6% - 700-900 manat, 19.4% - 500-700 manat, 15% - AZN 900-1,100. --17D-