Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Kazakhstan has been experiencing significant growth and development in recent years.
Customer preferences: In line with global trends, customers in Kazakhstan are increasingly looking for residential properties that offer modern amenities and conveniences. There is a growing demand for properties with high-quality finishes, spacious layouts, and access to recreational facilities. Additionally, customers are placing a strong emphasis on energy efficiency and sustainability, seeking properties that are environmentally friendly and cost-effective in the long run.
Trends in the market: One of the key trends in the residential real estate market in Kazakhstan is the rise of mixed-use developments. These developments combine residential, commercial, and recreational spaces in a single location, creating vibrant communities where residents can live, work, and play. This trend is driven by the desire for convenience and the need to optimize land use in urban areas. Mixed-use developments offer residents access to a range of amenities and services, such as shopping centers, restaurants, and fitness facilities, all within walking distance of their homes. Another trend in the market is the increasing popularity of gated communities. These residential complexes offer a sense of security and exclusivity, appealing to customers who value privacy and a tranquil living environment. Gated communities often feature amenities such as landscaped gardens, swimming pools, and 24-hour security, providing residents with a high standard of living.
Local special circumstances: Kazakhstan's rapidly growing economy and increasing urbanization rates are contributing to the development of the residential real estate market. As more people move to cities in search of better job opportunities and a higher standard of living, the demand for housing is on the rise. This has led to the construction of new residential developments and the renovation of existing properties to meet the needs of the growing population.
Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the residential real estate market in Kazakhstan. The government's focus on infrastructure development and urban renewal projects has created a favorable environment for real estate investment. Additionally, low interest rates and favorable mortgage lending conditions have made it easier for individuals to purchase residential properties. The strong economic growth and stable political climate in Kazakhstan have also attracted foreign investors, further stimulating the real estate market. In conclusion, the residential real estate market in Kazakhstan is experiencing growth and development due to customer preferences for modern amenities and conveniences, the rise of mixed-use developments and gated communities, the country's rapidly growing economy and increasing urbanization rates, and favorable macroeconomic factors such as infrastructure development, low interest rates, and foreign investment.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:
Data is modeled using current exchange rates. 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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