Notes: "To transfer property rights, the owner is required to present in written form from State Registry to the notary body about previous restrictions (liens) of real estate due to absence of united electronic system. Besides this, the consent of living persons (registered in the dwelling) is additionally required for transfer of property by owner."
Notes: Nation-wide Average. Figure in Square Meters
Notes: Nation-wide Average. Figure in Square Meters
Notes: No special act for mortgage lending, but in generally there is "Law on protection of Consumer rights".
Notes:
Notes: "In Civil Code there is a separate chapter devoted to covered bonds. As a cover could be guarantee (state, municipality and other) and other securities such as bonds, shares, apartment certificates, mortgage papers, deposit certificates and etc."
Notes: "In Civil Code there is a separate chapter devoted to covered bonds. As a cover could be guarantee (state, municipality and other) and other securities such as bonds, shares, apartment certificates, mortgage papers, deposit certificates and etc."
Notes: "In Civil Code there is a separate chapter devoted to covered bonds. As a cover could be guarantee (state, municipality and other) and other securities such as bonds, shares, apartment certificates, mortgage papers, deposit certificates and etc."
Notes: "Physical persons pay the property tax from the inventoried value of the building in their ownership. The tax not to be levied if the value does not exceed the sum of 5000 manats. From the amount exceeding 5000 manats the tax rate is 0.1% annually."
Notes: "Physical persons pay the property tax from the inventoried value of the building in their ownership. The tax not to be levied if the value does not exceed the sum of 5000 manats. From the amount exceeding 5000 manats the tax rate is 0.1% annually."
Notes: "To transfer property rights, the owner is required to present in written form from State Registry to the notary body about previous restrictions (liens) of real estate due to absence of united electronic system. Besides this, the consent of living persons (registered in the dwelling) is additionally required for transfer of property by owner."
Notes: 1% of dwelling unit
Notes: 1% of dwelling unit
Notes: 1% of dwelling unit
Notes: 1) Rules of Mortgage Loan allocating by means of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic 2) Standard Requirements regarding to allocation of refinancing mortgage loans of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic by authorized loan organizations
Notes: 1) Rules of Mortgage Loan allocating by means of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic 2) Standard Requirements regarding to allocation of refinancing mortgage loans of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic by authorized loan organizations
Notes: 1) Rules of Mortgage Loan allocating by means of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic
2) Standard Requirements regarding to allocation of refinancing mortgage loans of Azerbaijan Mortgage Fund under Central Bank of Azerbaijan Republic by authorized loan organizations
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2005 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 2010 = 100
Notes: 65-70% . According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: 65-70% . According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: 65-70% . According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: 65-70% . According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: 70% (for AMF loans)
Notes: 70% (for AMF loans)
Notes: 70% (for AMF loans)
Notes: 70% (for AMF loans)
Notes: 70% (for AMF loans)
Notes: 70-85%
Notes: 70-85%
Notes: 8% (for AMF loans)
Notes: 8% (for AMF loans)
Notes: 8% (for AMF loans)
Notes: 8% (for AMF loans)
Notes: 8% (for AMF loans)
Notes: 80% (for AMF loans)
Notes: 80% (for AMF loans)
Notes: 80% (for AMF loans)
Notes: 80% (for AMF loans)
Notes: 80% (for AMF loans)
Notes: According to "Law on Enforcement" 7% of loan is paid for court executors. The legal costs and courts duties are fixed. Other expences are changeable.
Notes: According to "Law on Enforcement" 7% of loan is paid for court executors. The legal costs and courts duties are fixed. Other expences are changeable.
Notes: According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: According to AMF standards 1 borrower and up to 3 co-borrowers may apply for the same loan
Notes: According to legislation property rights could be transfered in following ways:via contract, in legal form and inheritance. The types of contracts are following: purchase and sell, gift or donation, exchange of estate. All contracts related with transfering of property rights must be signed notarially.
Notes: AMF
Notes: AMF
Notes: AMF serves as a refinancing institute in secondary market
Notes: AMF serves as a refinancing institute in secondary market
Notes: Approximately 12 months
Notes: Approximately 12 months
Notes: Dwellings which are on the balance sheet of enterprise and organizations
Notes: Dwellings which are on the balance sheet of enterprise and organizations
Notes: Figure in monthly wages
Notes: Figure in monthly wages
Notes: Figure in monthly wages
Notes: Figure in monthly wages
Notes: Figure in monthly wages
Notes: Figure in Square Meters
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowd
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: Gross rental income earned by nonresidents is taxed at a flat withholding tax rate of 14%. No deductions are allowed
Notes: If the ratio goes beyond 70% then co-borrower should be defined
Notes: If the ratio goes beyond 70%, then co-borrower should be defined
Notes: If the ratio goes byond 70% then co-borrower should be defined
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: IMF Staff Estimate
Notes: In generally there are no constraints, it is changeable and depends from banks policy. Mortgage loans conditions are determined by banks taking into account market rate and of course Central Banks regulations related with classification assets and creating provisions. But mortgage loans which are given at the expence of Azerbaijan Mortgage Fund are regulated.
Notes: In generally there are no constraints, it is changeable and depends from banks policy. Mortgage loans conditions are determined by banks taking into account market rate and of course Central Banks regulations related with classification assets and creating provisions. But mortgage loans which are given at the expence of Azerbaijan Mortgage Fund are regulated.
Notes: Including AMF
Notes: Including AMF
Notes: Including AMF
Notes: Including AMF
Notes: Including AMF
Notes: Including State Fee, Form N1, Bank fee on purchase contract and mortgage registration, but excluding 0.2% of Bank and 15% of Service fees
Notes: Including State fee, Form N1, Bank fee on purchase contract and Mortgage registration, but excluding 0.2% of Bank and 15% of Service fees
Notes: Including State fee, Form N1, Bank fee on purchase contract and Mortgage registration, but excluding 0.2% of Bank and 15% of Service fees
Notes: Including technical passport and service besides title fees
Notes: Including technical passport and service besides title fees
Notes: Including technical passport and service besides title fees
Notes: Nation-wide Average. Figure in Square Meters
Notes: Nation-wide Average. Figure in Square Meters
Notes: Nation-wide Average. Figure in Square Meters
Notes: No special act for mortgage lending, but in generally there is "Law on protection of Consumer rights".
Notes: No tax, but there is some state duties for registration of mortgage transactions in State Registry (10 AZN)
Notes: No tax, but there is some state duties for registration of mortgage transactions in State Registry (10 AZN)
Notes: One of main difficulties is cultural. In most cases the debtors or mortgagors appeal court decisions even knowing that they will lose.The other problem is related with resettlement of living persons in mortgage houses.
Notes: One of main difficulties is cultural. In most cases the debtors or mortgagors appeal court decisions even knowing that they will lose.The other problem is related with resettlement of living persons in mortgage houses.
Notes: Only few banks suggest foreign exchange loans and mainly in USD and Euro. Since banks do not split local and foreign exchange mortgage loans in their balance
Notes: Persons who are not officially registered as an unemployed
Notes: Persons who are not officially registered as an unemployed
Notes: Presently in Azerbaijan, mortgage is regulated via "Law on Mortgage" and Civil Code.
Notes: Presently in Azerbaijan, mortgage is regulated via "Law on Mortgage" and Civil Code.
Notes: Presently in Azerbaijan, mortgage is regulated via "Law on Mortgage" and Civil Code.
Notes: Range of 100-187.5 USD
Notes: Range of 51.0-128.0 USD
Notes: Range of 54.0-134.0 USD
Notes: Range of 55.0-137.5 USD
Notes: Range of 55.0-137.5 USD
Notes: Range of 55.7-139.0 USD
Notes: Range of 93-174 USD
Notes: Range of 97.5-183 USD
Notes: State Budget allocations to the Azerbaijan Mortgage Fund (AMF), which focus on the social mortgage sector. They are expected to reach AZN 14 million (EUR €12.5 million) in 2010.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies. Percentage of social mortgage loans for 2010 - 14% of total amount of home mortgage originations in calendar year (HOFINET - Housing Finance Systems. A.2.3) and state budget allocations.
Notes: Subsidies are not determined by income level. Only specific groups (military, refugees, etc.) receive subsidies. Percentage of social mortgage loans for 2011 - 11% of total amount of home mortgage originations in calendar year (HOFINET - Housing Finance Systems. A.2.3) and state budget allocations.
Notes: The Azerbaijan Mortgage Fund's (AMF) mortgage bond program only began operations in 2009 with an initial amount of AZN 55 million EUR (€149 million) and it expects to place another AZN 75 million (EUR €66.9 million) in 2010.
Notes: The capital gains from property via rent shall be taxed at the source of payment at the rate of 14 percent.
Notes: The capital gains from property via rent shall be taxed at the source of payment at the rate of 14 percent.
Notes: The Centralized Credit Registry (CCR) was launched at the Central Bank in 2005. CCR hosts information on all loans of individuals and legal entities with loan obligations in the banking sector of the country irrespective of amount. Only banks and borrowers on whom information is placed have the right for use of this information with the purpose to assess a credit applicant.
Notes: The Centralized Credit Registry (CCR) was launched at the Central Bank in 2005. CCR hosts information on all loans of individuals and legal entities with loan obligations in the banking sector of the country irrespective of amount. Only banks and borrowers on whom information is placed have the right for use of this information with the purpose to assess a credit applicant.
Notes: The Centralized Credit Registry (CCR) was launched at the Central Bank in 2005. CCR hosts information on all loans of individuals and legal entities with loan obligations in the banking sector of the country irrespective of amount. Only banks and borrowers on whom information is placed have the right for use of this information with the purpose to assess a credit applicant.
Notes: The income of physical persons from the realization of immovable property which was the place of residence of him for not less than 3 years is not a subject to income. In otherwise he must pay income tax from differences as annual income (up to 24000 manats 14%, over 24000 Manats3360 Manats + 30% of the amount exceeding) from purchase and sell prices.
Notes: The income of physical persons from the realization of immovable property which was the place of residence of him for not less than 3 years is not a subject to income. In otherwise he must pay income tax from differences as annual income (up to 24000 manats 14%, over 24000 Manats3360 Manats + 30% of the amount exceeding) from purchase and sell prices.
Notes: The relevant legislation is in the development stage
Notes: There are no tax exemptions for mortgage interest payments. Income tax from these payments are also levied.
Notes: There are no tax exemptions for mortgage interest payments. Income tax from these payments are also levied.
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: This is the mean, the median is not reported
Notes: Typically it is 1% from both sides of the contract
Notes: Typically it is 1% from both sides of the contract
Notes: Typically it is 1% from both sides of the contract
Notes: Yearly allocations from State Budget
Notes: Yearly allocations from State Budget
Notes: Yearly allocations from State Budget
Notes: Yearly allocations from State Budget