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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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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