Within two months of this year the rights to 23,918 houses were registered in Azerbaijan. This is 25.7% less than in the same period last year, the State Committee for Property Affairs said (http://goo.gl/T7iZXv).
Since the beginning of the year operations on the primary real estate market (6,640) decreased by 20.3%, and operations on the secondary market (17,278) – by 27.6%.
This year, increased registration of rights on non-residential premises (590 transactions, +12%) and land allotments to permanent crops (17 transactions, +30.8%). For other types of real estate the activity declined.
In January-February of this year the rights were recognized for 4,638 individual houses and summer cottages (-28%), 7,082 apartments (-5.6%), 11,040 land plots (-34.3%), 436 non-residential buildings (+40.9%) and 5 multi-storey buildings (-44%).
Exactly one third of the operations (7,950) accounts for Baku.
The deep economic and financial crisis observed in Azerbaijan since 2014 hit primarily the real estate sector: the demand for it fell, and the real estate prices are gradually falling. ----08B
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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