Housing prices may fall until end of 2015 in Kazakhstan - opinion

Date: 11:16, 03-12-2014.

Astana. December 3. KazTAG - Housing prices in Kazakhstan may decrease until the end of 2015 on the background of saturation of the domestic real estate market, said Alexander Belovich, chairman of construction committee, industry of construction materials and housing communal complex and management of land resources of the national business chamber, chairman of board of "Bazis-A" company.
"It's very hard (to forecast the pricing dynamics for real estate until the end of 2015-KazTAG). If the market is saturated with goods it is possible," he said answering KazTAG's question.
He added "it's impossible" to reduce the prices for the economy class housing as the current prices for new flats are close to the cost price
Lubov Nysanbayeva, president of union of town planners believes that real estate prices should be affordable for the middle class.
"I think it’s possible and we should do this (reduce real estate prices-KazTAG)... I'd like them to be affordable for middle class," she said.

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