BAKU, Azerbaijan, July 12
Trend:
Kazakhstan’s First Vice Minister of Industry and Infrastructure Development Kairbek Uskenbayev spoke about the increase in volume of investments in housing construction at a briefing of the Service of Central Communications, Trend reports referring to Kazinform.
"In Kazakhstan, for the last two years, the volume of investments in housing construction has sharply increased. According to the statistics, in May 2019, investments amounted to 432 billion tenge ($1.01 billion), and in the same period of 2021 - already 732 billion tenge ($1.71 billion), that having grown by 1.7 times,” Uskenbayev said.
“Especially this year, the measure on the acquisition of housing at the expense of pension savings has impacted [the rise in volume of investments in housing sector]. However, since June, prices for housing have stabilized due to the fact that the majority of the savings has already been used,” he added.
According to the official, the construction boom has caused an increased demand for construction materials, which delays in covering domestic production in some fields.
"Then the price was affected by imports and speculative actions of certain intermediaries and producers," he added.
At the same time, as the press service of the Ministry of Industry and Infrastructural Development noted, a sharp rise in the prices of reinforcing steel can be explained by the growth in metal price in world markets, while the prices on the remaining building materials cause many questions. For example, the cost of a brick in Nur-Sultan and Kokshetau cities grew by 58 percent and 40 percent respectively due to unfair competition.