Azerbaijan doubles government mortgage lending

Azerbaijan doubles government mortgage lending
# 29 April 2014 13:11 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. In January-March, 2014, AZN 25.854 mln mortgage loans were given through Azerbaijan Mortgage Fund, up 1.7 time times from previous year.

AMF told APA-Economics that 634 mortgage loans, including 266 loans under preferential terms, were given during the first quarter. Totally, the mortgage lending has reached AZN 568.487 mln since it launched in 2006.

56% of ordinary and preferential mortgage loan receivers works in state, 44% - in private sector. Of this, 82% was men, 18% - women. 67.3% was married, 32.7% - single. 38.5% of borrowers was at 18-29 ages, 32.8% - at 30-35 and 28.7% - at over 36.

82% of preferential mortgage loan receivers is servicemen, 7.8% - IDPs, 6.8% - civil servants, 1.8% - candidates of sciences, 1.3% - sportsmen, 0.3% - families of martyrs.

Most of houses bought through mortgage lending are in Baku, Sumgayit, Absheron and Ganja. Prices of these houses are at range of AZN 30,000-90,000.

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