We provide various consultations on purchase of real estate in Azerbaijan as well as full legal support.
Purchase of Real Estate in Azerbaijan
Each year, an increase of 4-5 per cent is shown in the real estate market of Azerbaijan. Commercial real estate in the central areas of the city is growing 9-10 per cent per year; they show the best growth. The real estate market is becoming more promising for investors and every year more and more foreign investors invest in the real estate market to obtain passive income and have guarantees for the future. Potentially, prices for local investors are not very expensive, and for foreign investors, prices in the Azerbaijani market are quite cheap compared to other countries.
According to the legislation, citizens of foreign states have the right to directly acquire real estate in Azerbaijan in full ownership.
The Decree on Simplification of Issuing Permits of the President of the Republic of Azerbaijan dated February 19, 2019 brought transparency to the real estate market in Azerbaijan. This document has greatly simplified the issuance of documents and extracts from the registry and this increases the investment value in the real estate market. After signing this document, there will be no violations, there will be only official state duties.
The economic reforms carried out in the republic stimulate the inflow of capital investments. Attracting foreign investment to the country is an integral part of the economic strategy. The adopted Investment Activity Act and Protection of Foreign Investment Act of the Republic of Azerbaijan create a favourable economic environment for foreign investment.
Why is buying real estate in Azerbaijan attractive for investors?
- The influx of tourists, carrying out a lot of international competitions every year, through the services (Airbnb, Booking.com).
- Lower interest rates on deposits, growth affects the price tags of real estate.
- The active phase of new projects, competition between developer companies in the real estate market leads to an active growth of the real estate market in Baku to a greater extent.
- Stable economic growth in Azerbaijan.
- A system of state assistance to entrepreneurship has been formed and is developing in the republic.
Why Legal Advice is Required When Buying a Property?
- A realtor and a notary public are interested in your purchase as they will receive a cash reward only after the transaction is completed. If you contact our real estate specialist, we are interested in the quality of the work done and your safe purchase
- Checking registries, perhaps this property was inherited
- The apartment is under arrest, under a hereditary, marital or other obligation
- The seller of the apartment is not its owner
- There is no consent of all apartment owners to the sale
- Minor children are registered in the apartment
- Invalid Power of Attorney for sale
- The seller’s title deeds are not properly executed
- There are relatives who have the right to the sold property received by its owner by inheritance
- The apartment is an object of collateral for a loan
- The technical passport does not correspond to the actual data
- There are debts for payment of utilities for an apartment
The buyer may not be aware of these circumstances. This is where professional legal assistance comes in handy.
The best investment is buying apartments up to 3 rooms in the tourist areas of Baku
Our real estate services for foreign citizens:
- Drafting a lease of real estate
- Development of safe purchase and sale schemes for real estate
- Consulting the foreigners on the purchase and sale of real estate
- Preparation and consideration of all legal documents on the interests of real estate
- Registration of real estate rights and obtaining extracts from the real estate registry
We can also offer you to find real estate with the help of our trusted real estate agencies at your request and control the entire process with legal support.
We carefully check each transaction, provide the necessary assistance with paperwork. Each object included in our database is tested for ownership. Therefore, you can be sure of the legal purity of housing, the absence of debts and other unpleasant surprises when buying property in Baku.
Our Services in the Field of Real Estate Purchase for Foreign Citizens in Baku:
- Database of exclusive offers (checked for ownership)
- We solve the problems that arise when transferring money through a bank to purchase real estate
- Remote real estate purchases on your behalf, with a notarized power of attorney
- Property management agreements (further leasing)
- Maintenance and execution of purchase and sale agreements, rental of real estate (apartments, commercial real estate)