Nearly 2,300 citizens received mortgage loans last year

Nearly 2,300 citizens received mortgage loans last year
# 30 January 2015 15:00 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. In 2014, AZN 126.470 mln mortgage loans were given through the Azerbaijan Mortgage Fund, up 45.68% from previous year, APA-Economics reports quoting Fund’s website.

Analysis on loans

Totally, 2,240 mortgage loans, including 1,135 preferential loans, were given in 2014. AZN 130,195,400 was preferential loans, AZN 435,156,610 – mortgage loans.

In other word, as of January 1, 2015, number of mortgage loans reached 15,842, volume – AZN 557,370,600.

Totally, AZN 633.280 mln mortgage loan has been given since government mortgage lending started in 2006.

38.8% of funds for financing of the mortgage loans came from state budget, 61.2% from securities.

80% of persons who received preferential loans made servicemen, 8.1% civil servants, 7.9% Internally Displaced Persons, 2.1% candidates of science, 1.4% sportsmen, 0.3% martyrs’ families.

Analysis on borrowers

82.7% of borrowers in 2014 made males, 17.3% - females, 67.9% - married, 32.1% - single, 37.9% are 18-29 year old, 33.1% - 30-35 year, 29% - over 36 year old, 57.3% worked in state sector, 42.7% in private sector. Salaries of 33.9% are over AZN 1,100, 21.7% - AZN 700-900, 19.1% - AZN 500-700, 15.3% - AZN 900-1,100, 7.6% - AZN 300-500, 2.4% - below AZN 300.

Analysis on mortgage subjects

Most of apartments bought through mortgage loans are in Baku, Sumgayit, Absheron, Ganja and Nakhchivan.

In Baku, 22.3% of apartments are in Khatai district, 15.8% in Yasamal, 14.2% in Binagadi, 11.2% in Nasimi, 9.5% in Nizami, 8.3% in Narimanov, 6.4% in Surakhani, 4.6% in Sabunchu, 3.9% in Sabail, 2.6% in Garadakh.

56.4% of apartments are in the price range of AZN 3,000-60,000, 34.7% in AZN 60,000-90,000, 4.3% in AZN 90,000-120,000, 1.8% over AZN 120,000, 2.9% - below AZN 30,000.

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