Secondary real estate market grew by 8.8%

In January of this year Azerbaijan registered 10.7 thsd of property rights, which is 1.9% more than the same period in 2012. With over 7.7 million real estate transactions have been made on the secondary market, which recorded 8.8% strength grew activity.

According to the State of registration of immovable property under the State Committee on Property, in January this year in the primary real estate market was recorded right around 3 thousand objects. This is 11% less than in January 2012.

The main part of real estate transactions in Azerbaijan falls on land (4096), apartments (3789), and individual and country houses (2227). In this case, as opposed to land holdings (7.8%), the intensity of transactions with apartments and detached houses fell by 1.8% and 1.3%. In January tenants privatized 875 public housing apartments. Thus, from 1993 to the 1st of February this year in Azerbaijan there were privatized 467,816 apartments.

The share of Baku in the real estate deals in January of this year was 37%. For apartments, the figure exceeded 70%. - 08D -