Review of Real Property, II quarter 2014
The second quarter of 2014 has been marked by a noticeable “lull” in construction, putting into operation and conclusion of purchase and sale transactions of real estate properties of the business and elite class segment. Therefore, there have not been any noticeable changes in the concept of offers of this sector. Yet the demand from tenants for apartments of the “expensive” level is steady and stable. Special focus is on elite apartments and cottages of the left bank of Astana, the park waterfront area on the right bank and the so called “Golden Square” in the old center of the capital.
Preferences of potential tenants of elite and business class housings have not undergone any significant changes; as always the most popular housings are 2-3 bedroom apartments in the “Highvill”residential complex which accounts for 23% of the total number of requests received in the “East House” real estate agency. The “Cascade”residential complex is a little behind – 14 % of the total number of requests, “Triumphal”– 13% as well as a number of houses along the Bokeikhan street, the “On the Water Green Boulevard” and “Nursaya”residential complexes – 10%, 10%, 8% respectively.
There is a growing interest among still being constructed and already finished objects of the “Basis” and “BI Group” construction companies which are distinguished by their elegant European architecture, respectable location and unusual style and name. Some of them are the “Parisian quarter”, “Milanese quarter”, “British quarter” residential complexes, a series of complexes – the “Urban romance” (“English quarter”, “French quarter” and “Italian quarter”), the “London” residential complex.
 |
THE “PARISIAN QUARTER” RCThe 6-storeyed residential complex has been built in a prestigious microdistrict of the capital – Ak-Bulak-2 which is located at the junction of the right and left banks.The complex was built using the advanced building technologies: quality material of façade and interior decoration, modern communications, the noise and heat insulation system. The infrastructure of the complex includes everything you need for comfortable living: a heated parking on the ground floor, maintenance of the complex, a 24 hour concierge, a walking boulevard, a playground, a smart home system.
|
 |
THE “MILANESE QUARTER” RCThe elite low-rise complex consists of residential buildings and an object for administrative purposes. The security guarantees limited access to the area and comfort – equipped walking alleys, playgrounds and sports grounds, and underground parking and a secured parking zone for guests. Its comfortable location allows you to enjoy the beauty of the Ak-Bulak River, Presidential Palace and Presidential park zone. The modern and reliable communication systems will provide comfortable and trouble-free living. In 2013 the first house of this series was built; for 2014-2015 construction of two more houses has been planned. |
 |
THE “ENGLISH QUARTER” RCThe modest and elegant residential complex consisting of the 6-8-storeyed houses complements with its architecture the right bank of Astana. It has comfortable and functional layouts of the apartments which are equipped with the modern climate systems, the floor heating system, a fully finished kitchen area and bathrooms; it has luxurious interior decoration using exclusive and quality building materials, the reliable 11-level security and video surveillance system; the secure area around the complex has fountains, playgrounds and well-maintained lawns; it has a comfortable parking zone. |
 |
THE “FRENCH QUARTER” RCOne of the complexes of the “Urban romance” project has been built close to the most famous sights of the capital: the Independence square, Kazakh Eli Monument, the Palace of Peace and Reconciliation, the Museum of History of Kazakhstan, the “Shabyt” Palace of Creativity and others. The area of the complex, the building façade, the interior decoration – all of them comply with the single stylistic concept of romanticism, pomposity and chic. It has functional layouts of the apartments, high-strength building materials, a comfortable parking, and the fully equipped and secured area. |
In the second quarter of 2014 the demand for cottages in Karaotkel, Komsomolsky villages, Ak-Bulak microdistrict rose significantly. Along with this more tenants prefer to consider cottages with the area from 500 square meters to 1000 square meters, with adjacent area to the house about 15 Ares, a garage for 2 cars and a deeper fencing and a joint guest parking zone. The houses they prefer to choose are with two kitchens, a large sitting room for having guests, a central or electric heating and a detached house for service personnel.
|
The most requested apartments in the second quarter of 2014 were two bedroom ones with the area 100-140 square meters. One bedroom apartments with the area from 65 to 95 square meters rightfully rank second. The third are three bedroom apartments with the area 150-220 square meters. Next are apartments with four and more bedrooms from 200 square meters and one room apartments to 70 square meters. |
 |
The rental rates for business and elite class residential property in are within 3-5%compared to the cost of the same objects in the first quarter of 2014.
RENTAL FEES FOR THE APARMENTS
(Comparative Analysis for I quarter, 2014 and II quarter, 2014)
AVERAGE RENTAL FEES FOR THE RESIDENTIAL HOUSING IN THE 2nd QUARTER, 2014
(stated in USD)
|
NAME OF THE RESIDENTIAL COMPLEX |
1 bedroom |
2 bedrooms |
3 bedrooms |
4 bedrooms |
5 bedrooms and more |
|
|
RIGHT BANK |
«HIGHVILL ASTANA» |
1 900 |
3 000 |
4 300 |
5 800 |
9 500 |
|
«STAR OF ASTANA» |
- |
2 800 |
6 000 |
8 000 |
- |
|
|
«ARMAN» |
- |
3 800 |
6 000 |
8 000 |
10 000 |
|
|
«On Bokeikhan street» |
1 700 |
2 400 |
3 800 |
5 600 |
- |
|
|
«PRESTIGE » |
1 800 |
2 800 |
4 000 |
5 800 |
- |
|
|
«Atameken» |
1 700 |
2 700 |
3 800 |
4 800 |
8 000 |
|
|
«Grand Alatau» |
1 500 |
2 100 |
3 000 |
4 500 |
- |
|
|
>«Ak Bulak»microdistrict |
1 700 |
2 500 |
3 800 |
4 800 |
7 800 |
|
|
«ALTYN ORDA» |
1 700 |
2 200 |
3 700 |
4 600 |
7 700 |
|
|
«GORODSKOI ROMANCE» |
1 600 |
2 300 |
3 200 |
4 200 |
- |
|
|
«Capital» |
1 700 |
2 200 |
3 100 |
- |
- |
|
|
Left bank |
«TRIUMPHANT» |
2 000 |
3 000 |
4 200 |
5 000 |
- |
|
«NURSAYA» |
1 700 |
2 400 |
3 800 |
4 800 |
- |
|
|
«KASKAD» |
2 000 |
2 800 |
3 800 |
5 000 |
6 000 |
|
|
«TRIUMPH OF ASTANA » |
1 800 |
2 400 |
3 400 |
4 800 |
6 100 |
|
|
«One the Water Green boulevard» |
1 800 |
2 500 |
3 800 |
4 600 |
- |
|
|
«Green Village» |
- |
4 500 |
7 000 |
10 000 |
12 000 |
|
|
«Zhansaya» |
1 700 |
2 500 |
3 600 |
- |
- |
|
|
«Northern lights» |
1 900 |
2 700 |
3 700 |
4 500 |
- |
|
|
«rixos khan shatyr» |
3 500 |
6 000 |
8 000 |
- |
- |
|
|
«ASEM KALA» |
2 000 |
3 000 |
4 400 |
5 800 |
7 200 |
|
|
«DIPLOMAT» |
1 700 |
2 400 |
3 300 |
- |
- |
|
|
«INTERNATIONAL TRADE CENTRE» |
1 800 |
2 300 |
3 200 |
4 000 |
- |
|
|
«New world» |
1 500 |
2 100 |
2 800 |
3 500 |
- |
|
|
300 - 500 sq.m. |
500 - 750 sq.m. |
750 - 1000 sq.m. |
||||
|
hOUSES |
KOMSOMOLSKIY village |
7 000 – 8 500 |
8 500 - 13 000 |
12 000 - 17 000 |
||
|
KARAOTKEL village |
7 000 – 8 500 |
8 500 - 13 000 |
12 000 - 17 000 |
|||
|
DIPLOMATIC village |
7 500 - 9 000 |
10 000 - 15 000 |
- |
|||
|
CHUBARY micro district |
4 500 - 7 000 |
7 000 - 10 000 |
10 000 - 12 000 |
|||
|
Ak Bulak micro district |
8 000 - 10 000 |
10 000 - 14 000 |
12 000 - 15 000 |
|||
SUMMARY
As estimated by the experts of the “East House” real estate agency, the rental market of business and elite class segment still shows consuming power and being in demand. Despite some fluctuations in the cost due to the changes in currency exchange rates, seasonal factors, relation of supply and demand, no significant changes in the price policy and the structure of offered objects are expected.
Mostly potential tenants opt for an object of property basing not only on price appeal but the level of comfort of living conditions (the apartment houses that are gaining popularity are with a low number of floors and apartments with the fenced area, an underground parking, the reliable security and access system, the well-developed internal infrastructure, a landscaped playground and sitting area) and convenient location(the ecology of an area, walking distance to workplaces, the proximity of capital sights).