Azernews.Az

Qabil Ashirov

Read more

Azerbaijan has provided 5.4 billion manats (AZN) in mortgage loans to approximately 73,400 borrowers, AzerNEWS reports, citing Rasim Abdullayev, General Manager of the Mortgage and Credit Guarantee Fund.

Speaking at an industry event, Abdullayev said that around 80% of the country's mortgage financing has been issued through the state-backed Mortgage and Credit Guarantee Fund, while the remaining 20% has been provided under commercial banks' own mortgage programs.

Citing data from the Central Bank of Azerbaijan, he noted that mortgage loans currently account for 15.2% of the banking sector's total loan portfolio, underscoring the growing importance of housing finance in the country's financial system.

Abdullayev also highlighted the success of the Fund's mortgage guarantee mechanism. Since its introduction in 2018, banks have issued 1,571 guaranteed mortgage loans with a combined value of nearly AZN 150 million, helping expand access to home financing.

Young people and young families remain the primary beneficiaries of the program. Borrowers aged 18–29 account for 33% of all mortgage recipients, while those aged 29–35 represent 34%. Individuals aged 35 and above make up the remaining 33%, meaning that 67% of all mortgage borrowers are under the age of 35.

Regionally, 23% of all mortgages have been issued outside the capital, reflecting a gradual expansion of housing finance across Azerbaijan.

The data also show that 67% of mortgage recipients are married, while 33% are single. In terms of employment, 58% of borrowers work in the public sector, compared with 42% employed in the private sector.

Between 2020 and 2026, more than 7,300 people per year on average benefited from the financial instruments offered by the Mortgage and Credit Guarantee Fund, highlighting the program's continued role in supporting homeownership and improving access to affordable housing across Azerbaijan.