Kazakhstan: Overview

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Real estate in Kazakhstan

Kazakhstan (pop. 15,120,000; GDP/cap US$4,073) is in Central Asia, bordered by Russia, China, Kyrgyzstan, Uzbekistan, Turkmenistan, and the Caspian Sea.

Foreigners can own land (but choose not to)
Foreigners are now allowed to own land intended for residential houses, since the Land Code of 2003, and to lease for 10 years. However, no foreigner has ever actually bought land, and the law appears to have been passed to appease American oil investment interests.

Generally, the position of foreign investors appears increasingly under threat, after President Nazarbayev’s recent public complaints that previous privatizations were executed too quickly and by-passed domestic investors. The general impression is that the President is eyeing some recently privatized assets for his own family.