Kazakhstan citizens pay 260% on mortgages

Mortgage agency Penny Lane Realty made a rating of mortgage availability in different countries. Kazakhstan is ranked 55th, Express K reports. The experts calculated and compared overpayment on a 20-year 122 thousand Euro loan. Mortgages in Kazakhstan are issued at 15.5 percent per annum. Overpayment on such loan in Kazakhstan makes 190 thousand Euro, or 160 percent. "The end of this list is mostly occupied by former soviet countries. The experts did not take into account the state support for Kazakhstan people allowing to restructure mortgages at 11 percent per annum. If the level of loans was as before, we would have equaled Russia, which is ranked 47th,” said the company director Yevgeniy Maidanov. Turkmenistan is the last country in the list. Mortgages are extended there under 18 percent per annum. The best country for mortgages is Denmark, where interest rate is only 1.36 percent per annum and overpayment hardly exceeds 16 thousand Euro.