Growth rate of housing prices significantly drops in Kazakhstan

Business Materials 11 March 2015 19:54 (UTC +04:00)

Baku, Azerbaijan, Mar.11

By Elena Kosolapova - Trend:

The growth rate of housing prices has significantly dropped in Kazakhstan, Ranking.kz analytical service said on March 11.

"The prices for secondary housing have increased by 6 percent in a year, while the new housing prices have increased by 4.5 percent," said Ranking.kz.

The prices for new apartments rose on average by 4.5 percent and stood at 223,700 tenge (185.05 tenge = $ 1) per square meter in February. The prices for new buildings have dropped in Taldykorgan, Aktobe, Kostanay and Almaty.

The largest price increase was recorded in Ust-Kamenogorsk, where the price per square meter of new housing stood at 176,200 tenge.

The average price of housing on the secondary market has increased by 6 percent over 2014.

The offer price rose to 175,100 tenge per square meter in February. The prices remained at 2014 level only in three cities of Kazakhstan, while the other cities saw increase.

The highest increase in the prices for secondary housing was observed in Taraz (23.5 percent) and Kokshetau (19.3 percent).

Edited by CN

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