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Prices for real estate in Almaty are not set to drop: Central Bank Governor

21 february 2012, 11:28
0
Gregory Marchenko. ©Vladimir Dmitriyev
Gregory Marchenko. ©Vladimir Dmitriyev
Prices for real estate in Almaty are not set to drop, Central Bank Governor Gregory Marchenko said on KTK TV channel February 19.

According to Mr. Marchenko, for the recent four years housing construction hasn’t been growing. These are only half-built buildings that have been completed, Bnews.kz reports, citing him as saying on the KTK TV Channnel.

“The situation is easy to understand: purchasing power and demand for housing are still there, with the demand being on the rise; whereas the supply hasn’t been growing. Therefore the National Bank sees no preconditions for real estate prices to drop”, Mr. Marchenko said.

In a separate statement Mr. Marchenko commented on possible introduction of a single currency in the Common Economic Space of Kazakhstan, Russia and Belarus.

“If we initiate introduction of a single currency within the CES, we may come to terms in 8-10 years’ time. We have always agreed that we should build on the EU experience, taking into account all the EU’s mistakes and drawbacks. It should be a supra-national currency issued by a supra-national Central Bank preferably based in Almaty, Kazakhstan’s biggest city. I told all that to Russia’s PM Vladimir Putin back in 2001. Kazakhstan’s positions haven’t been changed since that time”, Mr. Marchenko said.

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