Registration of property rights to real estate drops in Azerbaijan

Over Jan-Apr 2024, 121,061 ownership rights to real estate were registered in Azerbaijan (32.5% less against Jan-Apr 2023), city.az reports, referring to the State Service of Property Issues (under the Ministry of Economy).

Out of the total number of registered property, 18,440 (15.2%) accounted for primary registration, 102,621 (84.8%) for secondary registration (34.1% and 32.2% less than a year ago, respectively).

17,896 of the registered property were private houses and cottages, 26,445 apartments, 72,951 land plots, 1,047 non–residential buildings, 2,470 non–residential premises, 240 property complexes and 12 multi–storey residential buildings.

29,798 registered real estate properties are located in Baku, and the rest are in the regions.

In 4 months, 90,043 technical passports were drawn up, 22,387 mortgage agreements registered.