The demand in the housing market has noticeably stepped up this year, and real estate companies’ income grew threefold this year. Small real estate companies demonstrate the most vivid activity their revenues increased almost 4 times for the year, finprom.kz reports. During the first half of 2016, the number of transactions on the purchase and sale of property stood at 87,900 or 13% higher than in the corresponding period last year. The housing market was slowly recovering in 2015 after the slowdown in 2014 when the number of transactions for the year fell by 14%. The number of transactions on the market increased by only 5% last year compared with the level of 2014. Small real estate agencies’ revenue amounted to 276 billion tenge during the reporting period, or 77% of the total. The share of small enterprises in the amount of total income was less than 64% a year earlier. The small sector employs 73% of the total number of workers in the industry, or 64,000 people. The revenue from sales in the segment of real estate transactions increased by 31% over the year, however the growth rate is quite small in absolute terms - the amount of income from operations increased 33 billion tenge to 139 billion tenge. The sharp rise in revenues of the industry was driven by the inflow of revenues from non-core activities - interest on deposits, help of investors and others. 

 

 

 

 

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