New Purchasing Regulations for Real Estate in Kazakhstan: Insights Revealed
From 2025, Kazakhstan's Construction Game Changes: Parliament adopts a law to strengthen control over shared construction, as reported by our website.
What's Gonna Change After the Law is Signed:
- Pre-sale agreements for apartments and non-residential premises in under-construction buildings are now prohibited - only after obtaining permits;
- Advertising new buildings if the developer doesn't have the right to attract funds from shareholders is no longer allowed;
- regional administrations will keep a close eye on who's collecting money for construction;
- Mortgages for apartments in buildings without permission to collect funds are banned;
- All payments will be cashless to exclude gray schemes;
- The construction extension period has been reduced - instead of 9 months, it's now a maximum of 5.
Incentivizing measures are also being introduced: reduced requirements for developers after the house's frame is built, the possibility to use shareholders' money immediately after obtaining the regional administration's permit, and easing capital requirements for developers from 15 to 10 percent.
A Doleholders Support Center is planned - a consultative body that will provide information about the legality of projects and the safety of investments.
Originally, the agreement was between the shareholder and the developer, but now a bank-agent and a special project company will be added, making it a four-part transaction. The developer will not take part in shared construction, but will instead create a separate project company to manage it.
The law "On issues of participating in shared housing construction, automobile roads, and providing services for transporting individuals with disabilities" has been adopted by Parliament but hasn't come into force yet.
Real Estate Market Pessimist: If previously the agreement was between the shareholder and the developer, now a bank-agent and a special project company will be added. Does that mean we'll have to pay them too?
Wise One: Nah, probably for additional security so shareholders don't get left with empty pockets.
Seirkali: Ah, shell companies again.
Medeu)) All for the people. ))). Prices of apartments will immediately go up. No competition will be left.)))
Erjan: So, who will ultimately be held responsible if responsibility is spread? In the end, not even a court will find the end.
Sayat: Reading comments and am amused by the superficial judgments. The government is actually giving people more guarantees and taking control of the construction of precious meters, but as always, people are not satisfied. ))
ZKO: Sayat, the main thing is there's no state control. They always promise, but no one does anything. The question is why?
Guest: Just not Russian banks
Kurd Kurd: What do Russian banks have to do with this?
Mudrets: Kurd Kurd, 😅
Baha: Prices are soaring
Arman: What gray schemes??? ""All calculations - only cashless, to exclude gray schemes", it's not for the people, but for the state, control of citizens' incomes...
I think so...!!!: Instead of simply banning one thing - banning construction without permission, they introduce a thousand bans that everyone gets around.
Buddy: Space is running out, narrowing the circle. It's just business. Whoever does it, makes money. Whoever can't, can't.
Aza: A new feeding trough! Not now, but eventually, we'll have to pay a percentage to these bank agents and special project companies for their work! Why do our elected officials come up with this? If the government can't make companies work on time and quality, then there's no question here! P.S.: "A Just State. United Nation. Prosperous Society" - a dream!
Magister: Essentially, nothing will change, all these restrictions will simply introduce a third party that will give its approval. The chain has been lengthened, which will lead to an increase in construction costs and ultimately the cost per square meter. And the abandoned buyers will still be there.
Citizen: Forced state control measures. But only large companies will remain, with no possibility for small ones to grow, and of course, housing prices will rise.
Tengri: Fine, Kazakhstan. ))
Patriot K9: It didn't take even three years to take the first step and write a few pages of a new law...
Danil: Mmm, it's already feeling like they're going to build "good and quality houses"
Multi Chel: That's right, it's a law written in blood, builders have constructed hundreds and thousands of houses on KZ land through such manipulations. People lose everything, and the builder opens a new LLC and continues to deceive new people peacefully.
Гражданин РК: Why aren't the responsibilities of akimat employees increased, who have "under their noses" illegal high-rise buildings being constructed, which are then either demolished or become long-term problems?
Сара: Why not introduce another requirement that the purchase of one apartment automatically includes the acquisition of parking space? Construction permits should not be issued if the residential complex project does not provide for at least one parking space per apartment, plus 10% for guest parking. And if there are commercial premises in the residential complex, then an additional 5-10% depending on their area.
Арман Абишев: Your parking spaces will cost a fortune. Prices are already astronomical, and now they're charging astronomical interest rates.
User Agreement: Enter your email and password
Password must be at least 6 characters long
- With the new law, individuals cannot invest in real-estate projects before obtaining necessary permits.
- The Finance sector will play a more significant role in shared real-estate construction, as banks and special project companies will now be involved in the transaction.
