According to a leading business portal in Kazakhstan, citing the country’s Real Estate Federation, Kazakhs people once again have become interested in purchasing real estate abroad.
The demand for overseas property fell sharply during the financial crisis. However, in 2011 and during the first 2 months of 2012, a rise in this market segment became evident. According to Kazakhstan-based real estate companies, the same amount of property abroad has been sold since the beginning of this year as over six months in 2011.
At present, Kazakhstan’s nationals are interested in purchasing housing mainly in London and in Dubai. Real estate investments in countries as Bulgaria, Spain, Italy, Thailand and Egypt were popular in the pre-crisis period.
The cost of real estate depends on the country. In Bulgaria, the prices range from 50 thousand to 200 thousand euros, in London, the average transaction costs between 500 and 700 thousand pounds, and in Dubai it is about 150 to 300 thousand US dollars.
Purchasing real estate abroad is seen by Kazakhstan’s citizens primarily as an investment. Naturally, real estate markets that offer good return for investment are preferred.
