Analysts discuss real estate market in Kazakhstan

The growth rate in real estate prices will decline. Ramazan Dossov, an analyst of the Association of Financiers of Kazakhstan, gives such forecasts. In his opinion, apartments will rise in price, but not at such a rapid pace, because the current market surge was sharp, given the current levels of income of the population. The possibility of using the ‘surplus’ of pension savings for the purchase of housing will also affect the decline in prices. As known, Kazakh citizens have already withdrawn more than 75 percent of the planned volumes. In addition, preferential mortgage programs are being phased out. Thus, no pressure on prices is expected, the expert said. According to the Bureau of National Statistics, since the beginning of the year, apartments in new buildings have risen in price by 11 percent, and in the secondary housing market by 17 percent.

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova