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Africa Housing News > Blog > Nigeria Housing News > Number of mortgage loans in Kazakhstan increased 19 percent in 2018
Nigeria Housing News

Number of mortgage loans in Kazakhstan increased 19 percent in 2018

Fesadeb
Last updated: 2019/03/11 at 5:02 PM
Fesadeb Published March 11, 2019
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ASTANA – The number of home loans issued in Kazakhstan grew 18.9 percent in 2018 over 2017. The total portfolio of loans issued grew by 3 percent in the same time period.

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The mortgage loans grew 1.8 percent and reached 1.3 trillion tenge (US$3.44 billion) in just December 2018, according to a report by ranking.kz. In December 2018, Astana and Almaty saw 25.5 percent and 26 percent growth respectively. More rural areas saw growth of approximately 3 percent. The Kostanai Region had a 5.8 percent increase (40.6 billion tenge or US$107.31 million), the Aktobe Region had 3.3 percent (to 73.7 billion tenge or US $194.8 million) and the West Kazakhstan Region had 3 percent (44.9 billion tenge or US$118.68 million).

The Zhilstroysberbank (House Construction Savings Bank) of Kazakhstan (HCSBK) remains the biggest issuer of the loans for the purchase of housing in the system of housing savings. The share of financial institution loans from the country’s mortgage portfolio was 51.4 percent in 2018 against 42.4 percent in 2017.

In response to a high demand for bank services in the West Kazakhstan Region, the HCSBK opened a new branch in Uralsk in December. To date, 68,600 residents of the region, that is, every tenth citizen, are saving up for future housing. The amount of savings has already reached 34.6 billion tenge (US$91.45 million). The branch issued 11,700 loans (59 billion tenge or 155.94 million).

Since the launch of Nurly Zher state programme in the end of 2016, in the West Kazakhstan Region, 1,200 apartments were sold for approximately 10 billion tenge (US$26.43 million). In 2018, 480 apartments for 3.7 billion tenge (US$9.78 million) were sold. This year, the state programme plans to commission another 1,100 apartments with a total area of ​​62,400 square metres.

In addition, the commissioned volume of housing in square metres has been growing steadily year by year and reached 12.5 million square metres in 2018, against 11.2 million square metres in 2017.

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Fesadeb March 11, 2019 March 11, 2019
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