Improvement of housing conditions of people is the important component of the social reforms underway under the leadership of President Ilham Aliyev. State Housing Agency established by the President of the Republic of Azerbaijan is an integral part of reforms towards improved livelihood of country population. Besides, “Strategic road map on development of housing at affordable prices” reflects reforms to be conducted by government in this particular field.
According to changes to Rules signed by the President of the Republic of Azerbaijan, amount of preferential mortgage loan will be increased from 85% to 90%, which will simplify access to preferential mortgage loans among less well-off groups of population. The previous rules required the mortgage loans extended to purchase of residential place on which proprietary rights were registered. After the changes, the mortgage loans will be extended to purchase of residential place on which proprietary rights are registered, including pre-registered. According to changes, mortgage loan will be extended to purchase of refurbished residential place based on the price of the residential place calculated for 1 square meter for Baku, as well as the villages of Baku, and other cities and districts of the country.
Centre for Analysis of Economic Reforms and Communication announces an internship program