In January-April this year, rights to 44.7 thousand properties were registered in Azerbaijan. This is a 6.8% increase over the comparable period in 2011. In this case the initial registration of property rights decreased by 14.3%.
According to the State Committee on Property, in the primary market the rights to 13,267 properties were registered in this period. The types of the property were not made public.
The secondary real estate market showed 19.1% growth. The rights to real estate were issued for 31.4 thousand objects, which were the subject of sale. In January-April, land transactions were 16,828 (the leading index). Rights were issued to 15,998 apartments, including the privatization of state housing stock. Extracts were obtained on 9,200 cases of individual ownership of houses and country estates.
Over a third of the registration of property rights in January-April this year fell on the city of Baku - 15.6 thousand. However, most of the property, on which rights were registered, included apartments (11.2 thousand). - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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