In Kazakhstan, discussions have begun about introducing a limit on apartment purchases – no more than two per person

For many Kazakhstanis, real estate remains the primary tool for preserving capital

It is assumed that the restriction will cool demand and help stabilize prices, Informburo 31 reports.

However, analysts warn that this is a temporary measure that could ultimately lead to a housing shortage and the growth of a “gray” market.

The proposed limits on home purchases are expected to curb rising prices. But experts consider such a measure utopian. They believe artificial barriers will produce only a short-term effect. At the same time, developers may reduce construction volumes, while the housing deficit continues to grow.

“These are attempts to prescribe a pill so that, figuratively speaking, the headache goes away, but no one wants to look for the root cause of that headache. What should be done with the construction industry so that it truly develops and can ensure affordable prices? The answer is very simple. Today, we do not control construction costs; we are dependent on imports. Let’s admit that first. Second, let’s start working systematically on developing the construction industry,” says Lev TETIN, an international real estate expert.

Experts note that for many Kazakhstanis, real estate remains the main instrument for preserving capital. Apartments continue to be seen as the most reliable investment.

“On the positive side, perhaps there will be tighter control over corrupt income, since for corrupt officials it is indeed difficult to move money elsewhere, so some of it is invested here. But I believe this will bring far more negative consequences. Moreover, we must understand the current situation in the real estate market. In my view, we are standing on the threshold of a major crisis,” says Marat KAIRLENOV, director of Ulagat Consulting Group.

In addition, the credit system could also be affected. Real estate is a key form of collateral for loans, and under such restrictions these assets risk becoming illiquid. As a result, the market will begin looking for ways to circumvent the rules. Therefore, such measures may create new problems without addressing the root causes.

Photo: Screenshot.

SHARE YOUR OPINION AND DISCUSS THE ARTICLE ON OUR TELEGRAM CHANNEL!