Global Mobility News: The Currency of Housing in Almaty, Kazakhstan

    Feb 08, 2017 @ 08:27 AM / by Eugene Kobiako

    Rents in Almaty are now surveyed in the local currency, KZT. Asking rents are down in KZT and USD for six and 12 months. The KZT has devalued due to a drop in gas and oil prices, a major source of income for Kazakhstan’s economy.

    Trends of Localization and Increasing Vacancy Rates

    Many companies are taking more conservative approaches to their business models and hiring more locals, so fewer expatriates are arriving. There is more supply than demand for high quality properties, and tenants have many good and affordable options to choose from. The vacancy rate has continued to increase over the last year.

    Almaty, Kazakhstan as seen during AIRINC's recent on-site cost of living survey.

    AIRINC's Data Points: Your Global Mobility News

    Want to learn more?  The above excerpt is taken from Data Points, AIRINC's quarterly newsletter.  More mobility data highlights are now available on our website at www.mobilitydatapoints.com.

    Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments based on our expert international surveys, which are conducted by our global data collection team on-location.

    This quarter's cost-of-living surveys were conducted primarily in Europe, Asia, and mainland Southeast Asia.

     Learn More!

    Topics: Currency Volatility, Expatriate Housing, International Tax, Goods & Services, Data Points, Currency Devaluations, Data and Infographics, Almaty, Kazakhstan

    Eugene Kobiako

    Written by Eugene Kobiako

    Eugene joined AIRINC in 2016 as a surveyor and analyst in the Cambridge office, and is currently a client engagement representative for the Asia-Pacific region. A native of Seattle, he received his B.A. in European Studies and B.S. in Biology from the University of Washington in 2012. During his studies he spent two semesters abroad: one in Copenhagen, Denmark and one in Ottawa, Canada. Prior to AIRINC he has worked for the governments of Mexico and the European Union. He has been to over 80 countries for both business and pleasure. In addition to English he speaks Russian and Spanish fluently as well as some French, Danish, German, Swedish, and some basics in a few other languages. In his free time he plays the guitar and bass guitar, enjoys football (soccer) and hockey, studies foreign languages, and is an avid vexillologist. He is based in Hong Kong as of February 2020.