ASTANA (TCA) — Prices of new and existing housing went up by 13.6 percent and 10.6 percent year on year respectively in Kazakhstan in June 2016. New housing cost KZT 252,700 per square metre and existing housing was worth KZT 191,400 per square metre (KZT 1=$343 on Aug. 17). The difference in prices on the primary and secondary property markets (25%) did not practically change over the past year (22-23% now), Ranking.kz reports.
The most expensive new housing was in the capital, Astana, in June (KZT 343,700 per square metre, 36 percent more the national average). The Atyrau Region was second with KZT 322,600 (28 percent more the national average). The third was Almaty, where the price of new housing reached KZT 319,400 per square metre (26 percent above the average price of new housing in Kazakhstan).
Compared to April 2015 the highest growth rates of new housing prices were recorded in the Pavlodar Region (+31.7 percent) and Mangistau Region (20.5 percent) while the prices of new housing did not change in Zhambyl, Kyzylorda and Almaty Regions and even fell in the North Kazakhstan Region, East Kazakhstan Region, West Kazakhstan Region, and Aktobe Region.
The number of purchase deals for flats in blocks of flats increased by 30 percent year on year to 10,384 in May. Sales of detached houses also increased by 17 percent year on year, to 5,315 in May 2016. Traditionally, the number of flats sold is twice as high as the number of detached houses.
