Over 500 expats own real estate in Azerbaijan
Over 500 foreign nationals have purchased real estate in Azerbaijan
since 1995, the state body dealing with the sector has said.
The buyers of immovables mostly include citizens of the United States, Britain, France, Switzerland, Germany, Turkey, Iran, Bulgaria, Egypt, New Zealand, China, and the Netherlands, said chairman of the State Real Estate Register Service, Arif Garashov. Garashov told a news conference Friday that the employment of potential buyers is taken into account, with most of them engaged in business and the oil sector.
Purchases of real estate by foreign citizens in Azerbaijan were not allowed prior to 1995. However, the permission was granted to both foreign businesses and natural entities after relevant changes were made to the country's Civil Code. With the exception of land plots, non-Azerbaijanis are allowed to buy property.
Garashov said research has revealed that in some countries Azerbaijani citizens are not permitted to buy land or even own buildings.
"One of such countries is Turkey. We have appealed to the Foreign Ministry and the Cabinet of Ministers over this. The issue is being considered at the Azerbaijan-Turkey inter-governmental commission," Garashov said.
The buyers of immovables mostly include citizens of the United States, Britain, France, Switzerland, Germany, Turkey, Iran, Bulgaria, Egypt, New Zealand, China, and the Netherlands, said chairman of the State Real Estate Register Service, Arif Garashov. Garashov told a news conference Friday that the employment of potential buyers is taken into account, with most of them engaged in business and the oil sector.
Purchases of real estate by foreign citizens in Azerbaijan were not allowed prior to 1995. However, the permission was granted to both foreign businesses and natural entities after relevant changes were made to the country's Civil Code. With the exception of land plots, non-Azerbaijanis are allowed to buy property.
Garashov said research has revealed that in some countries Azerbaijani citizens are not permitted to buy land or even own buildings.
"One of such countries is Turkey. We have appealed to the Foreign Ministry and the Cabinet of Ministers over this. The issue is being considered at the Azerbaijan-Turkey inter-governmental commission," Garashov said.
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