Affordable housing will be easy to purchase21/01/2019

Changes have been made to the “Rules of acquiring by citizens of apartments being at the disposal of the State Housing Development Agency of the Republic of Azerbaijan” by the Order of the President of the Republic of Azerbaijan, dated 14.01.2019.

One of the novelties is the possibility of obtaining preliminary permission by the person who has been granted an electronic cabinet in the “Affordable Housing” system, applying to the agent bank. This change eases selection and purchase of an apartment, defining beforehand the amount and term of the loan to be granted by agent banks.

Another novelty is that those who had not been able to choose an apartment during the housing sale term are enabled to purchase an apartment. So, any apartment chosen in the “Affordable Housing” system may be chosen by two more people in consecutive order within the same announcement. That is to say if the person who had chosen an apartment failed, for any reason, to purchase it, such an apartment will first be offered to the person who stands first in the list waiting to purchase this apartment. And, following the same order, if this person too failed to purchase this apartment, it shall be offered to the second person waiting to purchase the same apartment.

Third novelty concerns those citizens willing to benefit from the additional discounts applied by the Agency to the sale prices of apartments. In accordance with this novelty, sale will be announced for people willing to purchase apartments at their own cost, by making lump-sum payment.

These novelties in the “Affordable Housing” system will be applied as of May 1, 2019.

State Housing Development Agency of the Republic of Azerbaijan

© 2019