In Azerbaijan, the registration of property rights on real estate increased by 19%

Politics 13:09 28 Nov, 2022
In Azerbaijan, the registration of property rights on real estate increased by 19%

In Azerbaijan, the registration of property rights on real estate increased by 19%
In January-October of this year, the State Service for Real Estate Issues of the Ministry of Economy registered 294,068 real estate ownership rights, which is 18.9% more than in the same period last year.

Qazet.az reports about this with reference to the institution.

According to the information, 70,558 (24%) of the 10-month indicator were initial, and 223,510 (76%) were re-registrations, as well as 26.4% were shared by Baku, and the rest by regions.

Of the properties, 41,040 are private residences and country houses, 75,387 are apartments, 167,909 are plots of land, 2,927 are non-residential buildings, 6,100 are non-residential plots, 660 are property complexes, 44- ü is a multi-storey residential building, and 1 is perennial plantings.

In accordance with the decree of President Ilham Aliyev "On some issues related to the regulation of land relations" dated October 7, 2021, the documentation of share lands that are not provided with ownership documents at the expense of state funds makes it possible to increase the initial registration indicator. Thus, compared to the same period last year, the initial registration of land plots increased by 2.6 times and reached 34,469 during January-October of the current year.