Welcome to this years Summer edition of our magazine

Welcome to this years Summer edition of our magazine
Welcome to this years Summer edition of our magazine

Like the weather, the hot topic, it seems, is whats happening in the real estate market? Prices have reached record highs after a large jump starting in January of this year. Yet, we are beginning to sense a hit of uncertainty on the part of some buyers at these prices which has also been affected by some of the recent pronouncements from Government circles regarding real estate activities, especially in Almaty. In our experience, prices for any commodity (which includes real estate) are classically a function of perception of future reality Yet future reality is harder to assess in a relatively new and developing market such as Kazakhstan. In mature markets, with a longer history of peaks and troughs, a perception of reality is often supported by historical precedent. In newly forming markets like Kazakhstan, the perception of "reality" is often based more on human emotion than past history. We are clearly in "uncharted waters" and it is difficult to tell where the trend may lead from here. Real estate market participants (all of us) must be wary of excessive greed on the part of some players I his greed factor can be, and often is, the single most important element which can destroy a market. If a group of critical mass stop buying because they feel prices are too high, this can then lead to fear which has been sparked by some news or rumor. Fear is the contra emotion to greed as a market force. When fear sets in, the result is a classic sell off when prices can fall.

 

On a lighter note, we are seeing more and more requests for information on opportunities overseas. In this issue, we have heighted Israel and Singapore: the first, a country which is in the political news on a daily basis but growing at a substantial economic pace. The second, a bastion of stability both economically and politically located right in the middle of one of the fastest growing economic regions in the world.

 

This issue also contains an interview with Philipp Meuser a German architect and journalist who is based in Berlin and has been in charge of several planning and building projects in both Russia and Kazakshtan. He is best known in Kazakhstan for his interior design in the newly built British Embassy in Astana.

 

I would like to wish all our readers and clients a wonderful and safe Summer season.

19.12.2011 00:00
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