Housing price appreciation and economic integration in a transition economy: Evidence from Kazakhstan

Journal Article (Journal Article)

This paper explores patterns of real estate price movements in an emerging upper-middle income economy, Kazakhstan. The country experienced an explosive, 11-fold increase in real housing prices in urban areas between 2000 and 2007, followed by a sharp decline and stabilization. This paper traces the movements across different regions, types of housing, unit size categories, and neighborhood types. We find that prices moved together closely, implying a linked, if not unified housing market, along with wealth effects that were felt broadly throughout the urban economy.

Full Text

Duke Authors

Cited Authors

  • An, G; Becker, C; Cheng, E

Published Date

  • June 1, 2021

Published In

Volume / Issue

  • 52 /

Electronic International Standard Serial Number (EISSN)

  • 1096-0791

International Standard Serial Number (ISSN)

  • 1051-1377

Digital Object Identifier (DOI)

  • 10.1016/j.jhe.2021.101765

Citation Source

  • Scopus