Buying Properties in Kazakhstan

Owning properties was not possible in Kazakhstan during the communist rule. All properties were owned by the state then. Eventually, property laws were liberalized with the fall of Communism. Locals and foreigners were already allowed to inherit, buy, and own properties and registration has become a lot easier. Housing or commercial properties may be purchased, as well as land. The only exception is an agricultural land where certain restrictions on ownership apply.

When buying properties in Kazakhstan, it may help to employ the services of a reputable real estate agent. These agents have access to different types of properties that will make the selection process faster and easier. The services of a local lawyer are also required for documentation and proceedings that go through the purchase process. Once a seller and buyer come up with an agreed transaction, the buyer usually pays 10 to 20% of the property price and both parties sign an agreement notarized by a lawyer. Documents are sent to the local Land Registry for the title deed. Applicable taxes and fees apply.

Growth in the economy is slowly giving a boost to the real estate market in Kazakhstan. Unfinished projects are once again resumed, and property prices are slowly rising, reflecting increased demand. High-quality, expensive properties can be found in the large cities in Kazakhstan.