Sale of first apartments in the Yasamal Residential Complex comes to the end06/12/2018

Sale and purchase of 278 out of 324 apartments in buildings No.1, 2, 3, 4 and 5 of the Yasamal Residential Complex - the first project of the State Housing Development Agency, chosen via the “Affordable Housing” System over the Electronic Government portal (www.e-gov.az) ended on 05.09.2018.

Of the 278 apartments purchased at preferential prices, 57 are one-room, 146 two-room, and 75 tree-room apartments. 61 citizens purchased their apartments for their own cash, while 217 of them acquired them through a loan granted on preferential terms.

Although only 2% of the citizens who have purchased apartments had expressed their intention to buy an apartment for their own money while getting registered in the “Affordable Housing” System, at the time of sale and purchase this percentage rose to 22%. Those citizens who purchased apartments for their own cash, having benefited from the additional discounts granted by the Agency, made the following payments:

for a 1-room apartment - 26 959 Manats (before discount, this amount was 29 953 Manats);

for a 2-room apartment - 42 896 Manats (before discount, this amount was 47 661 Manats);

for a 3-room apartment - 59 405 Manats (before discount, this amount was 66 006 Manats).

In addition, those citizens who acquired apartments using mortgage credit on preferential terms also benefited from discounts. 39% of these people who purchased apartments were given 10% discount because of having made advance payment exceeding the required minimal amount. As a result, monthly payment for apartments starts as follows:

for a 1-room apartment – from 88 Manats (for 360 months; the sales announcement indicated 129 to 136 Manats monthly payment for a 1-room apartment);

for a 2-room apartment – from 135 Manats (for 360 months; the sales announcement indicated 203 to 236 Manats monthly payment for a 2-room apartment);

for a 3-room apartment – from 200 Manats (for 252 months; the sales announcement indicated 282 to 288 Manats monthly payment for a 3-room apartment);

Military servicemen of the Republic of Azerbaijan who have served in the army at least for three years, as well as those being in reserve and those retired, persons who have served at least 3 years in the internal affairs bodies, and internally displaced people are in the majority among the citizens who have acquired apartments. In general, 58% of those who have acquired apartments are under the age of 35. The handover of the apartments is expected to take place in the near future.

The number of the apartments rejected by citizens to register is 46 (12 one-room, 28 2-room, and 6 three-room). These apartments will be put to sale together with new apartments in the following announcement.

Reasons for rejection:

Another announcement is expected to be given soon in connection with the sale of apartments in the Yasamal Residential Complex.

Statistics on the results of the sales may be obtained here.

State Housing Development Agency of the Republic of Azerbaijan

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