The number of privatized real estate in Azerbaijan increased by 32.1 in August 2022 compared to the same period in 2021, Trend reports via the Ministry of Economy of Azerbaijan.

According to the ministry, ownership of 33,720 real estate objects was registered in Azerbaijan during this period (7,730 objects or 22.9 percent - initial registration, 25,990 objects or 77.1 percent - re-registration).

Ministry noted that 5,043 out of a total number of real estate objects privatized in August 2022 are private residential and garden houses, 9,285 are apartments, 18,409 are land plots, and 304 are non-residential premises,606- non-residential plots, 64 are residential complexes, 9 are multi-storey residential homes.

Ministry also said that 26,623 real estate and objects underwent initial state registration in August 2022, which is 2.5 times higher than in the same period in 2021.

Technical inventory was carried out and technical passports were issued for 26,623 real estate objects in the reporting period, which is 36.4 percent more than in the same period in 2021.

The number of registered mortgage agreements in August 2022 increased by 43.5 percent (up to 5,928) compared to the same period last year.

Source: Trend.az