Should You Invest?
The property market in Kazakhstan is the most open it has ever
been for both local and foreign investors. Foreign investors are
becoming increasingly interested in the Kazakh market and the
number of companies with foreign involvement has been steadily
increasing in recent years. Keen to attract more foreigners and to
improve infrastructure, the country is striving to implement
programs that will aid their plight. Laws have also been put in
place making the purchase process more straightforward for
international investors. It is hoped that tourism and foreign
property investment will become significant industries for
Kazakhstan's growing economy.
Price History
Apartment prices in the larger cities of Kazakhstan, such as
Astana the capital and Almaty, have seen continuous price growth
over the last seven years. However price increases are
not expected to continue as many buyers have now been priced out of
the market meaning that only the very rich can afford to buy. A new
scheme by the government aims to lower credit interest rates making
mortgage loans more accessible for Kazakhstan's lower classes.
Kazakhstan is convinced that implementing a lower credit rate will
encourage locals and foreigners to invest in property resulting in
a more lively and competitive market.
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