Mortgage market shifts from Almaty to Astana
The capital of Kazakhstan, Astana is the current engine of mortgage market growth in 2013. The authors of the research work and the executing company “Analytic Decision Studio” made such conclusion, BNews.kz reports.
“Today Astana has become is the engine of mortgage growth. The capital market within 2013 grew by 13.7% what is 18.5 bln tenge. Almaty gives the ground. The clean growth in Almaty makes only 8.7 bln tenge or 3.3%,” the authors report.
The mortgage market gradually moves towards Astana. “The capital increased its mortgage share by 1% while of Almaty on the contrary lost 1.2%. As of December, 2013 Almaty concentrated 31.4% of all mortgages in the Republic for the total sum of 271.5 bln tenge, when Astana holds 17.8% what is 153.6 bln tenge,” analysts state.
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