Kazakhstan’s commercial real estate rental prices increased by 2.1% in March 2012 compared to December 2011, according to a report by the Kazakh Statistics Agency.
The rental prices for commercial real estate have risen by 2.5% in the first quarter of this year in Kazakhstan compared to the same period last year, according to the State Statistics Agency. Rental costs of service points, industrial and business premises increased by 5%, 3.5% and 3% respectively. Currently, the rent of one square metre in an Almaty shopping centre is 600-800 US dollars and the prices are roughly the same in Astana. The rent per square metre is lower in the southern regions and small towns and costs shop owners 200-300 US dollars. However, the costs are worth it, market participants say.
Anna Nazirova, «Altyn Samruk» Store Manager
«Starting a shop is profitable in malls as trading is well developed now and linked to entertainment. When a family comes to buy food they go to see the movies and visit at least 2-3 shops in the mall. A shop should be placed at spots with high footfall rates.»
Market participants refer to the spring-summer period as not the best time for sales. Potential customers spend most of their money on leisure and entertainment at this time. Then again, people do not need as many clothes during summer and it costs less than winter trousers, skirts, sweaters, and down jackets.
Anna Nazirova, «Altyn Samruk» Store Manager
«August is the best season. In September and October people prepare for the winter and buy the most expensive items. People return from vacations and start to prepare children for school and themselves for work. It is a good season.»
Experts estimated the annual volume of Kazakhstan’s apparel market at about 5 billion US dollars. However, this estimate is rather arbitrary, since, according to representatives of the Kazakhstan Light Industry Association, about 60 percent of the local apparel market consists of illegally imported clothing items.
Source: http://caspionet.kz/eng/business/Rental_real_estate_rises_in_price_1334635088.html
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