Anar Karimov: Azerbaijan applies innovative mechanisms in housing financing

A total of 9,000 rent-to-own housing agreements have been signed in Azerbaijan.

Report informs that Azerbaijan's First Deputy Finance Minister and member of the Supervisory Board of the Mortgage and Credit Guarantee Fund Anar Karimov said this at an event held as part of WUF13 in Baku.

According to him, over the past two decades, Azerbaijan has created a housing finance system that combines social inclusiveness and financial sustainability.

"The Mortgage and Credit Guarantee Fund has become the institutional backbone of the domestic housing system. In addition to mortgage lending, the fund has signed 9,000 agreements for the rental of apartments with the right of subsequent purchase. This is a very accessible instrument for families. The fund manages assets worth more than $2 billion," Karimov said.