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Housing prices surge in Kazakhstan year-on-year

Business Materials 9 February 2021 17:41
Housing prices surge in Kazakhstan year-on-year

BAKU, Azerbaijan, Feb.9

By Nargiz Sadikhova - Trend:

The cost of one square meter of new housing in Kazakhstan amounted to 319,252 tenge (approximately $762) in Jan. 2021, which is 3 percent more than in Dec. 2020 and 7.3 percent more than in Jan. 2020, Trend reports with reference to the data of the Committee of Statistics of Kazakhstan.

The cost of resale of ready housing equaled 244,715 tenge (approximately $585) per square meter, which is 5 percent more than in Dec. 2020 and 17.9 percent more than in Jan. 2020.

Rent of one square meter of comfortable housing increased by 2.7 percent compared to Dec. 2020 had amounted to 1,687 tenge (approximately $4.03).

Over 28 years of independence, 141 million square meters of housing have been commissioned in Kazakhstan. A unified model of housing throughout the country is developed, where the main principle is to increase the affordability of housing, especially for socially sensitive segments of the population.

To improve the living conditions of the people and create affordable opportunities, the introduction of new mortgage lending programs, which further increased the availability of housing mortgages, was initiated in the country.

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Follow the author on Twitter: @nargiz_sadikh

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