BAKU, Azerbaijan, April 3. A total of 1,251 mortgage loans amounting to 124.9 million manat ($73.7 million), including 41.9 million manat or $24.7 million (508 loans) of subsidized mortgage loans, were issued in Azerbaijan via the Mortgage and Credit Guarantee Fund during the first quarter of the current year.
Data obtained by Trend from the fund shows that, since 2006, mortgage loans totaling over 3.4 billion manat ($2 billion), of which 988.5 million manat ($583 million) accounted for subsidized mortgage loans, were issued via the fund. With the loans provided, 53,829 families have improved their housing conditions. Meanwhile, 67 percent of the mortgage loan recipients were youth and young families.
To ensure access for individuals with insufficient personal savings to mortgage loans with lower down payments, as of March 31, 2025, the fund issued 1,211 guaranteed mortgage loans totaling 107.4 million manat ($63.4 million).
During the past period, competition between bank clients in the mortgage market increased, with several banks offering mortgage loans at lower interest rates, with the maximum rate set at eight percent annually. As a result, the average annual interest rate for regular mortgage loans in the first quarter of 2025 was 7.5 percent.
