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Because of a ban of high-rise construction in Almaty the real estate will rise in price

15 march 2016

A few days ago Almaty state agency changed town-planning regulations, having fixed the ban on construction of high-rise buildings in foothill districts of the city which is unanimously approved by earlier Town-planning council.

We will remind, innovations concern building not only above Al-Farabi Avenue, but also areas along East bypass road and crossing of streets of Sain and Zhandosov. Now it is possible to build objects no more than three floors high, or 12 meters, and   no more than 17 meters wide in above area. Thus each building has to have own parking and settle down only in the meridional direction, that is from the North to the south (perpendicular to mountains) to provide air circulation.

However, according to builders, such ban and toughening of requirements to builders will cause increase of cost of housing.

— Because of a ban on high-rise construction housing price will automatically grow. At least in this area it is exact. For example, if earlier on a site in one hectare it was possible to construct a house in 10 floors, to pay back expenses and to get profit, now because of low number of storeys such expenses as elevators, a roof, internal and external engineering networks, improvement of a parking and the house adjoining territory will lay down on smaller number of square meters of the sold housing. In other words, earlier prime cost of expenses shared on 10 floors and joined in the cost of 1 sq.m of housing, now it will already share on 4.5. That means if load of a square made 100 dollars, now will be 2.5 times more — the chairman of the board of the ARISTAN Group company Bakhytbek Katen shared opinion with "Krisha".

Now real estate prices in the area are higher than Al-Farabi one of the highest in the southern capital. For example, the 4-roomed apartment with a total area of 177 sq.m in the housing estate located on Dostyk Avenue is higher than Al-Farabi, to buyers will cost 120 million tenges. It is difficult to present, what sums sellers will demand in the future if assumptions of builders are confirmed.

                                                                                                                                         Source: krisha.kz

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