Nowadays real estate in Azerbaijan is one of the most favorable area of investment. Emerging political and economic factors make it possible to predict long-term positive results.
You can purchase various private real estate (apartments, houses, cottages, dachas), commercial (offices, retail premises, restaurants), industrial, as well as recreational facilities and entertainment (hotels, resorts), etc. By the way, the entire real estate market is almost equally accessible for foreigners!
All this increases the attractiveness of the local housing market in the eyes of foreigners.
Searching & buying property in Azerbaijan
Selection of real estate in Azerbaijan is very simple. You can apply to HomeID for help, where you can choose the suitable property for you. After selecting right property, you can directly proceed to inspecting the property and negotiating with the property owner.
Important info! Foreigners can freely buy any type of real estate in Azerbaijan, with the exception of lands. According to the Land Code of Azerbaijan, only citizens of Azerbaijan can own land, and foreigners (incl. foreign companies), can only rent land. However, the land plot can be registered on the name of a company established in Azerbaijan.
Property buying process
So, after choosing real estate, the procedure of purchasing of real estate in Azerbaijan consists of the following stages:
– concluding a preliminary sales-purchase agreement (at a notary) and making a deposit (in the amount of no more than 5%);
– conclusion of the main purchase and sale agreement (also at a notary);
– registration of property rights in the State Real Estate Register of Azerbaijan.
Documents required for property registration
When registering the real estate in Azerbaijan, the parties must submit a number of documents for the transaction.
So, the Buyer must provide the following documents:
– Passport (or ID);
– Bank account details in the territory of Azerbaijan;
– A certificate of marital status.
The Seller must provide the following documents:
– Passport (or ID);
– Original documents for real estate (extract from the register, technical passport);
– Spouse’s consent for the sale procedure (if the seller is married or a certificate stating that he is not married);
– An extract from the Tax Service of Azerbaijan on the absence of tax arrears, including the year of sale;
– A receipt for payment of utilities.
