Over the past three years, the volume of real estate construction in Kazakhstan has expanded by 40 percent, and yet vast amounts of people continue to see owning their own homes as a distant dream.
Economic research unit Ratings.kz revealed in a note published this week that around 2.5 million people — around 14 percent of the population — have no residential property they can call their own.
As of March 2017, there were averagely 21 square meters of floor area per person in Kazakhstan. That was up from 18.4 square meters in 2010 — a slow increase.
Rating.kz estimated it might take until 2035 to reach the 30 square meters per capita level considered the norm by international standards.
According to Halyk Finance investment bank, around 7 percent of families in Kazakhstan are currently renting accommodation, while another 10 percent live in one-room houses.
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