11:56 - 19.06.2023

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June 19, Fineko/abc.az. Prices for non-residential real estate will rise in the capital of Azerbaijan.

ABC.AZ reports that it is linked with simplification of procedures for documenting objects that for one reason or another have not been documented so far.

Real estate expert Ramil Osmanli says that the presidential decree on the permission for operation of some non-residential construction projects will also affect the market of objects. It is linked with the fact that until now, objects without documents in some cases were sold cheaper than their cost, or the owner faced a number of problems during the sale process.

In addition, after documenting these objects, the rights of their owners to the property will be fully secured. It was also stated that this decree will apply to facilities built so far.

The expert noted that this decree will lead to the documentation of a total of about 40,000 objects over the next 2 years.