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Foreign citizens purchase more than 1110 properties in Azerbaijan last year

20 June 2011 09:30 (UTC +04:00)

State Service for Registration of Real Estate under the State Committee on Property Issues of the Republic of Azerbaijan told APA that in 2010, foreign citizens owned 1110 property in Azerbaijan. Of these, more than 90% are apartments and private houses. Last year, foreigners bought 833 apartments and 183 private houses in Azerbaijan. Another interesting thing for foreign citizens are real estate and non-residential areas. Last year, foreign citizens owned 55 land across the country. 27 of the non-residential areas were owned by the foreigners.

Besides, foreign citizens bought 5 summer houses, 5 non-residential buildings and 2 real estate complexes.

The foreign citizens are mostly interested in property located in Baku. Major part of property owned by the foreigners â€“ 70% has been registered in the capital. Last year, foreign citizens bought 765 properties. After Baku, the second interesting city for foreign citizens is Sumgayit. That is, 68 real estates were purchased by the foreigners in Sumgayit last year. Then, Ganja (50), Khachmaz, Jalilabad and Yevlakh complete this list.

Note that, citizens of most countries of the world such as England, Pakistan, Turkey, Spain, UAR, Germany, Japan and Korea are interested in real estate market of Azerbaijan. According to words of real estate agents, most of the foreigners buy property in Baku for work or just to live.

The foreigners find real estate in Azerbaijan by the help of their managers. Some of them use help of local realtor firms. In such cases, they are immediately registered at that firms and appropriate contract is signed between them.