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Turnover of real estate market in Azerbaijan grew by 25pct up to AZN 3 bn and income of mediators by 2.3 times

Posted on 13 February 2013

The Central Bank of Azerbaijan reports that turnover of country’s residential property market for 2012 increased by 24.86% against 2011. According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 2.828 bn by 1 January 2013 versus AZN 2.265 bn a year earlier.
At the same time transfers to notary’s offices accounts for purchase/sale of residential real estate by individuals totaled AZN 1.599 bn by 1 January 2013 versus AZN 1.2 bn a year earlier (+31.81%), and the withdrawals from these accounts AZN 1.228 bn versus AZN 1.05 bn (+16.84%)………………………………………..Full Article: Source


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