In the first half of this year in Azerbaijan were registered the ownership rights for 97,669 houses, by 19.1% more than over six months of last year.
The main part of the operations were made in the secondary market - 70.2 thousand. Then began the demolition of thousands of residential apartments in the old quarters of Baku known as "Sovetskaya Street." The property is purchased for the state needs, and planting of greenery will be on this site. Growth of real estate activity can be explained by this phenomenon.
Since the beginning of the year were compiled data sheets of 84 thousand houses, 13.8% more than in the first half of 2013.
Security of property also increased. In the first half of this year, the subjects of security became 21,060 objects. This is by 2000 more than in the comparable period of last year. - 08D-
Economics
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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Azerbaijan’s labor market has expanded, with the total number of employees in the country’s economy reaching 1.78 million as of early January 2025, according to preliminary data from the State Statistics Committee. The data reveals a nearly equal distribution of employment between the public and private sectors, with 882,800 people working in state-run institutions and 895,700 in the non-public sector.
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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