Kazakhstanis Own 5,000 Properties Abroad, LSM.kz Reports
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Kazakhstanis own approximately 5,000 properties abroad, according to LSM.kz. The report highlights significant ownership in Turkey and the UAE. This trend persists even as domestic real estate prices rise.
Property Ownership Statistics
LSM.kz reports that Kazakhstanis own around 5,000 properties abroad. The most popular destinations include Turkey, where 2,000 properties are owned, and the UAE, with 1,500 properties. Other notable countries include Spain and the United States, each hosting several hundred Kazakhstani-owned properties.
Domestic Real Estate Trends
Despite the increase in foreign property ownership, domestic real estate prices in Kazakhstan continue to rise. The National Bank of Kazakhstan noted a 12% increase in housing prices over the past year. This rise in prices has not deterred Kazakhstanis from investing in international real estate markets.
Land Sale Rumors and Criminal Penalties
Kazakh Prosecutor General Zhakip Asanov stated that individuals spreading false rumors about land sales to foreigners will face administrative and criminal liability. The statement targets provocateurs disseminating misinformation.
What's Next
The Kazakh government may review foreign investment policies in the coming months. It remains uncertain how these policies will affect future property purchases abroad.
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Kazakhstanis Own 5,000 Properties Abroad, LSM.kz Reports
