Experts are preparing a forecast of the situation in the housing market this autumn. In the case of devaluation, a fundamental change of processes on the real estate market in Kazakhstan is not expected according to the opinion of Ermek Musrepov, the President of Kazakhstan Real Estate Federationhttp, Business Portal Kapital.kz reports.

“Also, the fall of the national currency will not have a significant impact on the formation of real estate prices will. The real estate market of Kazakhstan has already gone through the last devaluation at the peak of the global crisis. And we have seen the formation of post-crisis real estate market “, the expert said.

Ermek Musrepov believes that starting from 2009 to the present day the market has been stable. At the same time prices for residential and commercial properties were formed, buying activity in all regions of Kazakhstan increased. “Affordable Housing” programme is under implementation. Currently, the cost of real estate market is coordinated by the dollar equivalent, that will not dramatically affect the fall or the rise in the real estate, he adds.

“Most likely, the devaluation process would affect the change the level of demand from potential buyers in the primary residential property. Especially if the property buyers have savings in the form of Tenge deposits or if they have credit facilities in Tenge. And in this case, the increased demand for primary residential real estate could lead to a slight increase in cost per square meter of real estate by developers”, the expert said.

Trends in the housing market in autumn. Currently, the real estate market can be described as a reflection of the whole economic situation in the Republic of Kazakhstan. We construct new facilities both residential and commercial orientation. Compared to previous years, buying activity has increased as Ermek Musrepov said.

The cost per square meter is stable, but in some cases, it changes in the inflation process. “As always the current trends is civil engineering, development of suburban areas of major cities, exploration and development of land plots for individual housing construction, as well as for construction of shopping centers and business centers. All Therefore, we can observe that the property market in Kazakhstan is in the active phase. Until the end of this year, a drop or increase in the cost per square meter is not expected”.

 

According to the Kazakhstan Real Estate Federation, the cost per square meter in Almaty has been formed as follows:

Primary housing of economy class – $1500 on average

Primary housing of comfort class – $2500 on average

Secondary housing of economy class – $1500 on average

Secondary housing of comfort class – $2200 on average

Cost per square meter in Astana:

Primary housing of economy class – $1700 on average

Primary housing of comfort class – $2500 on average

Secondary housing of economy class – $1500 on average

Secondary housing of comfort class – $2300 on average

 

Source: Business Portal Kapital.kz.