Sales of detached houses in Kazakhstan have risen by nearly 37 percent and have outpaced the apartment segment for a second consecutive year, according to a September market review by Dilyara Seitnurova, a developer and expert in construction and real estate, published on her channel, infohub.kz reports.
In her assessment, private homes are only growing more popular with buyers. The expert attributes the trend to people wanting more spacious housing for the same money. At the same time, the budget typically does not factor in the cost of utilities, roads and subsequent maintenance.
Seitnurova also singled out the situation with apartments: despite the cut in the base rate, prices have not fallen, while demand is shrinking. In Almaty, housing prices rose 16.6 percent over the year, while demand fell 12.7 percent over seven months.
The expert calls the National Bank's new base rate decision the main event for the housing market in October. It will determine whether construction loans keep getting cheaper and when mortgages will follow. In addition, with the start of the heating season, buyers should carefully check a home's readiness certificate.
Earlier, the Almaty maslikhat approved an adjustment to the General Plan through 2040. The original plan to build high-rise apartment blocks on the private-sector area known as "Kompot" was changed.