Kazakhstan real estate market is not subject to the rules of supply-and-demand situation, and it is now very difficult to forecast its development. This statement was made by Nina Lukyanenko, the Vice-President of the National Realty Association, during «Kazakhstan Mortgage Market: Development and Challenges» round-table discussions.

According to the representative of association, today one may observe some degree of panic on the real estate market. «Price adjustments have taken place. However, demand for real estate in Almaty is still present and remains high. It is hard to say how long the trend of price decrease will persist. For Almaty in general the fall in prices is notable.

N.Lukyanenko noted that sales of real estate in the centre of Almaty came to a stop last week, which can be explained by the fact that some sellers are in fact real estate investors who have chosen wait-and-see position for now due to price collapse.


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