Baku, Fineko/abc.az. The Central Bank of Azerbaijan reports that turnover of country’s residential property market for Jan-Oct 2012 increased by 21.695% against the 2011 same term.
According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 2.25 bn by 1 November 2012 versus AZN 1.85 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 983.015 million by November 2012 versus AZN 865.8 bn by November 2011 (13.54%), and the withdrawals from these accounts AZN 1.268 bn versus AZN 984.36 million (+28.87%).
The CBA reports of an increase in revenues mediators (banks, notary’s offices and realtors) for residential real estate transactions by 2.4 times. As of 1 November 2012 mediators’ earnings were AZN 285.506 million versus AZN 118.56 million a year earlier.
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