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11 Jul 2019, Petia Krasteva, EMIS Editor

Kazakhstan’s new home prices, sales increase in June

Prices of new homes in Kazakhstan increased by 3.4% y/y in June, bne Intellinews reported referring to the latest data by the country’s statistical office. The average price per square meter in June was KZT 282,530 (EUR 652.66), bne Intellinews added. Apartment rental costs rose by 7.7% y/y in the month

The property deals also increased in the month, up by 23.9% y/y, to 29,543 in June. The upheaval on the property market came on the back of recovery of the oil-dependent economy. Kazakhstan’s economic output decreased during the 2014-2016 low oil price period to return to 4.0% annual growth in the next few years. Nonetheless, the low trust in the banking sector and the reluctance of households to take more loans remain a constraint to a more robust real estate sector growth.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: bne Intellinews