To date, the Mortgage and Credit Guarantee Fund has issued 275.8 million manats in preferential mortgage loans for the sale of 5,442 apartments under the State Housing Development Agency (MIDA) projects.
According to the Operative Information Center-OMM, this was announced by the Fund's Chief Manager, Rasim Abdullayev.
Abdullayev noted that in recent years, 85 million manats have been allocated annually from the state budget for preferential mortgage lending. "A portion of these funds is utilized based on the distribution approved by the Cabinet of Ministers. As is known, MIDA announces apartment sales one month in advance, after which the sale process is carried out. Last year, 379 loans were allocated for the agency's apartments, while 470 were issued the previous year. This figure fluctuates depending on the number of apartments MIDA brings to the market during that period," he stated.
The State Housing Development Agency (MIDA) plays a crucial role in Azerbaijan's social policy by providing affordable housing options to citizens. These preferential mortgage programs are designed to facilitate homeownership for specific social groups, contributing to the improvement of living conditions and the development of the real estate sector in the country.
