Azad Rahimov, Azerbaijan’s Youth and Sports Minister, has told journalists that the construction of one block of Azerbaijani apartments, in the Settlement of Hovsan not far from Baku City, cannot solve the housing issue of numerous Azerbaijani young families.

Mr. Rahimov considers that the most advantageous way out of the existing situation may become lay mortgage credits. Mr. Rahimov also noted that the Budget of the Youth and Sports Minister had not envisaged funds considered for the construction of any housing buildings and block of flats, by adding that there had not been such a commission at all. “Some organizations proposed to allot them a free land to construct block of flats for young families on low prices. There is an only way to implement this idea – any construction company is to take all the construction activities upon itself, and we, as a State Body will buy a free land from the balance of the Baku Executive Power. Then the involved company presents a part of the flats it constructed to our possession, and then we shall distribute these housing areas to young families on lax mortgage credits,” he said. Mr. Rahimov noted that according to the calculation made, the prices on these apartments should be lower than those ones on the market by 30-40 %. Despite the holding the negotiations with some construction companies, unfortunately, no agreement has been reached.

“A land has been allotted in Hovsan, and we have met representatives of the construction company – “Akkord” (“Accord”). The company’s representatives proposed to allot a part of the land for the construction of a building, however that cannot satisfy the needs even 0.1 percent of our young families. To date, some 60.000 young families have been put themselves down on a waiting list,” concluded the Minister.