Average amount of mortgage lending in Azerbaijan close to AZN 50,000

By results of February, the average amount of government mortgage lending in Azerbaijan amounted to AZN 49,500, up 0.4% from the previous month, 0.85% by contrast to early 2019 and 8.3% compared to a year earlier, Report informs citing the Central Bank of Azerbaijan.

The monthly payment is also growing. This figure was AZN 349 as at the end of February, which is 0.3% higher than in the previous month, 0.6% than in early 2019 and 7.1% than a year ago.

The average  term of loan issuance remained unchanged at 281 months, the annual average interest rate dropped by 0.1 percentage point compared to a year earlier, 0.2 percentage point to early 2019 and 6.53% to a month earlier.