Primary housing prices rise by 5% in Kazakhstan
ASTANA. KAZINFORM Pricing policy at the primary housing market of Kazakhstan has stabilized. Within a year, the average price in new apartment houses rose by 5% and made 266,000 tenge per sq. m.
In the same period, the volume of new housing purchase and sale deals increased by 13%, Kazinform learnt from ranking.kz.
According to the Statistics Committee, the largest cities of the country observe price reduction at the new housing market now. Thus, prices dropped by 4.2% in Aktau, by 4.5% - in Kokshetau, by 24% - in Pavlodar and Petropavlovsk, which can be explained by a large-scale construction of cheap housing under governmental programmes.
From October 2017 to October 2018, the volume of bank loans for housing purchase increased by 17.2% (by 184.6bln tenge). Meanwhile, all the regions of Kazakhstan are observing mortgage market activation now.
In Almaty region, the volume of mortgage deals rose by 42.5% in monetary terms in a year. In Astana, Atyrau and West Kazakhstan regions, the volume of mortgage loans through the second-tier banks went up by 25%.