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Volume of transactions in real estate market rose by 53%

For seven months of this year, rights to 299.600 real estate objects have been registered and re-registered in Azerbaijan, which is up by 53.2%from figures for the comparable period of 2022, the State Property Service reports. According to the SPS, the main part of operations (252.200 transactions) falls on the share of the secondary market. For the first time, the rights to 47.400 real estate objects have been issued. The share of the city of Baku in the registration of real estate rights in the period January-July 2023 amounted to 18.7% (56.200 transactions). Note that about a third of transactions (209.800) on real estate rights were made for purchase and sale or primary registration of rights to land plots, including agricultural purposes. The rights to 29,846 private and suburban residential buildings, 53,408 apartments, 1,815 non-residential buildings, 4,320 non-residential plots, 415 property complexes and 68 multi-storey residential buildings have also been registered

Source: Turan News Agency