Azerbaijan increases number of apartments subject to leases with purchase obligations

Economy Materials 4 September 2023 18:41 (UTC +04:00)
Farid Zohrabov
Farid Zohrabov
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BAKU, Azerbaijan, September 4. Another 268 new, fully renovated apartments have been added to the list of residential premises provided to citizens by the Mortgage and Credit Guarantee Fund under the lease arrangement, with the obligation to buy them out later, the fund told Trend.

In total, 234 one- and two-bedroom apartments are offered in a residential complex located on Mahammad Asadov Street in the village of Saray, Absheron district.

In addition, another 34 apartments are provided in a complex located on Surkhay Nochuyev Street in the village of Garachukhur in the Surakhani district of Baku. These are two-, three-, and four-room apartments.

The new apartments will be available for selection through the "Electronic Mortgage and Credit Guarantee System" on September 14, 2023. Citizens can get acquainted with the list of apartments offered in residential complexes at this link.

At the moment, lease agreements with 3,913 citizens have been concluded with the obligation of subsequent redemption. The offered apartments are located in complexes with a spacious courtyard for residents to relax, in close proximity to the main infrastructure facilities (school, kindergarten, polyclinic, public transport). All residential premises are renovated and equipped with a combi boiler, water, gas, and electricity. The ownership rights to the apartments are registered by the country.

Detailed information about the requirements for tenants, applications, their consideration, selection, and design of residential premises can be obtained on the fund's website (http://www.mcgf.gov.az/), as well as by calling the call center "1549", and information about the use of the electronic system can be obtained from the instructions posted in the "Electronic Mortgage and Credit Guarantee System".

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