Baku, Azerbaijan, Dec. 27
By Ali Mustafayev – Trend:
Under the government support, the level of housing construction in Kazakhstan grew by 8 percent in 11 months of 2017.
Meanwhile, the loans to the housing construction sector has decreased, amounting to only 937.7 billion tenge as of October 2017, which is 2.2 percent less than in September, and 4.2 percent less, year on year, Energy Prom reported.
Moreover, the share of overdue loans in the credit portfolio of construction companies increased to 16.5 percent, amounting to 160.3 billion tenge.
The share of non-performing loans for banks in Kazakhstan may not exceed 10 percent from January 1, 2016, which means that the indicators of the construction sector do not favor the bankers, and lending in this industry will be carried out very carefully in the future.
Despite the general lack of funding, the housing construction sphere's development stays on the same level. For example, in the first 11 months of this year 9.6 million square meters of new housing units were put to use in Kazakhstan, 7.6 percent up year on year.
(Exchange rate for 27.12.2017: $1 - 332 tenge)