Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Kazakhstan has been experiencing significant growth and development in recent years. Customer preferences have shifted towards modern and high-quality properties, leading to an increase in demand for residential and commercial real estate. This trend is driven by several factors, including economic growth, urbanization, and changing lifestyles. Customer preferences in the real estate market in Kazakhstan have been influenced by a desire for modern and high-quality properties. Buyers and investors are increasingly looking for properties that offer modern amenities, such as smart home technology, energy-efficient features, and high-end finishes. This shift in preferences is driven by a growing middle class and an increasing focus on quality of life. Trends in the market include a rise in demand for residential real estate, particularly in urban areas. As the population continues to grow and urbanize, there is a need for more housing options. This has led to the development of new residential projects, including apartment complexes and gated communities. Additionally, there is a growing demand for commercial real estate, driven by the expansion of businesses and the need for office space. Local special circumstances in Kazakhstan also play a role in the development of the real estate market. The country has a large land area and a relatively low population density, which creates opportunities for new construction and development. Additionally, government initiatives and policies aimed at attracting foreign investment have helped to stimulate the real estate market. Underlying macroeconomic factors have also contributed to the growth of the real estate market in Kazakhstan. The country has experienced steady economic growth in recent years, driven by sectors such as oil and gas, mining, and construction. This has resulted in increased disposable income and a growing middle class, which in turn has fueled demand for real estate. In conclusion, the real estate market in Kazakhstan is developing in response to changing customer preferences, urbanization, and economic growth. Demand for modern and high-quality properties, both residential and commercial, is on the rise. This trend is supported by local special circumstances, such as a large land area and government initiatives to attract foreign investment. The underlying macroeconomic factors, including economic growth and a growing middle class, further contribute to the development of the real estate market in Kazakhstan.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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