Real Estate Market Evolution and Monetary Policy in Kazakhstan

Ybrayev, Zhandos; Becker, Charles

doi:10.2139/ssrn.3409328

Cited by 2 publications

(1 citation statement)

References 9 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In addition, when adjusted for population growth (please see Figure 11), the high proportion of housing supply in superstar cities of Kazakhstan is roughly proportional to the urban dynamics in the rest of Kazakhstan, so that supply largely meets demand. Interestingly, as Ybrayev and Becker (2019) note, two urban centers and oil regions account for a largely disproportionate portion of new construction, and hence, exhibit far higher housing prices relative to other local housing markets. However, as Seitz (2021) argues, observed increase in housing supply has not been enough to meet housing demand for an increasing population and urbanization goals set by the government.…”

Section: Polarization Of Housing Markets In Kazakhstanmentioning

confidence: 99%

Yield Curves for Main Street: Housing and financial capital returns in a developing economy

Ybrayev,

Orakbayev,

Utarbayev

2023

Econ of Transit and Inst Chang

Self Cite

View full text Add to dashboard Cite

Total housing real returns in large agglomerations in Kazakhstan are approximately 1% per year lower than in the rest of the country. Our results are also supportive of emerging literature, that housing real rent returns, adjusted for population, are generally lower in large agglomerations compared to the rest of the country. We indicate that within‐country heterogeneity of housing returns mainly result from the spatial concentration of economic activity in urban centers. Our findings also suggest that residential real estate in a developing economy produces higher returns compared to financial capital over the long‐run. At the same time, the volatility of holding housing investment is substantially higher than its “safe” alternative (i.e. deposit rate paid for savings deposits). As such, “Yield Curves for Main Street” concept refers to the general positive spread between total housing returns and financial capital returns in a developing economy.

show abstract

Section: Polarization Of Housing Markets In Kazakhstanmentioning

confidence: 99%

Yield Curves for Main Street: Housing and financial capital returns in a developing economy

Ybrayev,

Orakbayev,

Utarbayev

2023

Econ of Transit and Inst Chang

Self Cite

View full text Add to dashboard Cite

show abstract

Analysis of the current state and forecasts of the development of the residential real estate market of the Republic of Kazakhstan

Sikhimbayev,

Srailova,

Flek

2024

jour

View full text Add to dashboard Cite

Purpose of the study – describe the state of the Kazakhstan residential real estate market, identify the features and trends of its development. The authors of the study pay special attention to the analysis of the main indicators characterizing the residential real estate market, as well as the processes taking place in the mortgage lending market. Methodology – the study was conducted using methods of economic and statistical analysis, graphic method, method of description and generalization. The research sources were offi cial statistical materials of the National Bank of Kazakhstan, analytical reviews of consulting companies and fi nancial organizations, the «Krisha.kz» real estate platform and the «Kn.kz» real estate information portal, scientifi c research by Kazakh and foreign authors, as well as materials of scientifi c and practical conferences. Originality / value of the study – the authors carried out a detailed analysis of the state and problems of the residential real estate market of the Republic of Kazakhstan in recent years and gave forecasts for its future development. Findings. According to the results of research and analysis of the current state of the Kazakh residential real estate market in recent years, the authors identifi ed problems and identifi ed current trends in the development of the housing market, as well as forecasts of its future development. The results of the scientifi c article can be useful for real estate agencies, industry experts, as well as the scientifi c community involved in studying the real estate market.

show abstract

Real Estate Market Evolution and Monetary Policy in Kazakhstan

Cited by 2 publications

References 9 publications

Yield Curves for Main Street: Housing and financial capital returns in a developing economy

Yield Curves for Main Street: Housing and financial capital returns in a developing economy

Analysis of the current state and forecasts of the development of the residential real estate market of the Republic of Kazakhstan

Contact Info

Product

Resources

About