Prices on primary housing market to grow by 2010: KZ Developers Association

ASTANA. January 20. KAZINFORM /Zauresh Balkenova/ Growth in prices for primary housing market may start since 2010, Head of Kazakhstan Developers? Association Aidyn Rakhimbayev considers, Kazinform reports.

?By year 2010 the market supply will be reduced to a minimum?, A. Rakhimbayev said. According to the Association, 18 thousand flats were sold in Astana in 2006, 12 thousand ? in 2007 and 2 thousand ? in 2008. 6 thousand flats remained unsold on primary housing market of Astana this year. ?If the state program on real estate market stabilization is realized, the most part of these flats will be sold by mortgage lending program?, the Chairman of the Association considers. A. Rakhimbayev expressed confidence that in the nearest outlook Astana will face housing deficit. This will lead to increase in prices since new houses have not been constructed in the capital for a year and a half. It is also connected with growing flow of rural migration.