Azerbaijani MP proposes to reduce mortgage interest

Tue 12 Nov 2019 17:38 GMT | 21:38 Local Time

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Given the great interest in the constructed social housing in Azerbaijan, it is necessary to expand the construction of such houses, Azerbaijani MP Aydin Mirzazade said Nov. 12 at a plenary session of the parliament, Trend reports Nov. 12.

The MP considers it important to build social housing in the Azerbaijani regions.

“I propose to the Ministry of Finance that the construction of social housing be expanded in Baku and regions,” the MP noted.

Mirzazade also suggested reconsidering mortgage interest rates.

“I think it will be advisable to change the interest rate of the mortgage in Baku and the regions,” the MP said. “The population in the Azerbaijani regions doesn’t have such high income as the population in Baku. Therefore, I propose to reduce the interest rate of the mortgage in the regions.”




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