AZƏRBAYCANDA İPOTEKA KREDİTLƏRİNİN TİKİNTİ SEKTORUNUN İNKİŞAFINA TƏSİRİ

This article analyzes the impact of the mortgage lending system on the development of the construction sector in Azerbaijan. In recent years, the volume of state-supported mortgage loans has significantly increased, improving housing access for thousands of families. The analysis is based on official statistical indicators, including those from 2023–2024. The results show that the expansion of mortgage lending has increased demand for residential construction and has directly contributed to the annual growth in the number of newly commissioned apartments. In particular, in 2022, against the backdrop of record-level mortgage lending (422.7 million manats), the number of newly built apartments approached 25,000. The article explains the economic essence of the mortgage lending mechanism, the state’s subsidized mortgage policy, as well as the direct and indirect mechanisms of how mortgage lending affects the development of the construction sector. The analysis also reveals that despite high demand for mortgage loans, annual funding limits allow satisfying only a portion of solvent demand. Nevertheless, by 2023, more than 50,000 families had improved their housing conditions through the existing mortgage program. As mortgage lending expands, revitalization in the construction sector is observed, with the sector’s share in GDP and its contribution to non-oil economic growth steadily strengthening