House prices in Kazakhstan rising third fastest in the word, according to Knight Frank

Almaty

House prices in Kazakhstan are rising at 14%, faster than anywhere else in the world other than in Ireland (16.3%)  and Turkey (16.2%), according to Knight Frank’s most recent issue of its Prime Global House Index.  Although Russia is the only other CIS country to feature in the report’s top 55 (29th, 3%), the 8.5% rise in house prices registered across Russia and the CIS  combined was higher than anywhere else in the world.
 In the fourth quarter of 2014, global house prices fell for the first time in two years. “This is due to the fact that in 2014 the world has experienced serious economic and political turmoil: global economic growth of 3.3% instead of the projected 3.8%; the  decline in oil prices; the slowdown in the Chinese economy; the resumption of tensions between Greece and the European Union; and the development of the crisis in Ukraine, ” the reports authors explained.