Price of primary housing in Kazakhstan rises

24.kz

Prices for new build homes in Kazakhstan have risen by almost 9 percent over the year. The highest increase was registered in seven regions of the country. According to the Bureau of National Statistics, the top-three includes Pavlodar, Oskemen and Oral. In the capital, the cost of square meters in the primary market increased by 15 percent. Experts identified several factors that affect the price rise. These are the weakening of the Kazakhstan tenge against the United States dollar, a variety of mortgage programs, constant domestic demand for real estate, and, of course, the use of pension savings. According to the National Bank of Kazakhstan, as of March 1, the amount of loans for the purchase of apartments provided to Kazakh citizens totaled over two trillion tenge (over US$4.6 billion).

 

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