Government mortgage lending in Azerbaijan declines

Government mortgage lending in Azerbaijan declines
# 04 March 2013 14:53 (UTC +04:00)

Baku. Ali Ahmedov – APA-Economics. AZN 5.720 mln mortgage loans were given via Azerbaijan Mortgage Fund during February, 2013, up 2.36 times from month earlier, down 2.7% from previous year. Consequently, mortgage loans during 2 months of 2013 reached AZN 7.42 mln, down 6.7% compared with a year earlier said the AMF.

AMF says no funds were allocated via AMF in February.

Totally, the mortgage loans through AMF have reached AZN 427.73 mln since mortgage lending started in 2006. Consequently, as of March 1, 2013, per capita mortgage loan made AZN 45.6.

AMF has refinanced AZN 5.180 mln-mortgage loans. Totally, AZN 7.860 mln-loans were refinanced during January-February, down 38.3% from previous year. AZN 351.230 mln or 82.1% of total mortgage loans were refinanced.

Besides, AMF issued AZN 3 mln-bonds in January. Consequently, the bonds issued by Fund during first 2 months of 2013 reached AZN 11 mln.

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