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Wednesday, August 5th, 2020

EXPO Housing: Applications Admission Has Been Temporarily Suspended

by February 17, 2019 Market

The subsidiary of Baiterek Holding, Baiterek Development JSC, has temporarily suspended admission of applications for the purchase of real estate in EXPO Residential Area in Astana due to the revision of the mechanisms for the sale of housing.

– Since January 16, 2019, from 1 pm, admission of applications for the purchase of apartments in the residential area located in the territory of EXPO 2017 International Exhibition has been suspended. Taking into account the demand for real estate and solvency of the population, we are developing an additional mechanism for housing sale, which we are planning to present in the near future, – informed the Deputy Chairman of the Board of Baiterek Development JSC Askarbek Usserbayev.

It is noted that applications received before January 16 of this year through Digital Baiterek web-portal will be reviewed based on the previous conditions.

It should be recalled that one can purchase an apartment and a parking space in EXPO residential complex either at its own expense by non-cash payment, or using funds borrowed through second-tier banks, including within 7-20-25 mortgage program.

– If a potential buyer indicates “Own Funds” in the “Method of Payment” column, then he or she has three business days to transfer it. In case of real estate acquisition through a loan from a second-tier bank, the applicant has 15 business days to process all the required documents, that is, until February 7, 1 pm, – Askarbek Usserbayev explained.

Since June 1, 2018, the company has offered for sale one-, two-, three- and four-room apartments built earlier for the participants and guests of EXPO-2017 exhibition. As of today, 147 apartments and 102 parking spaces have been sold. In total, 1 547 applications for the purchase of real estate were received through the online platform of Digital Baiterek.

The cost per square meter of housing in the residential complex is 399 900 tenge, a space in the parking lot is 735 000 tenge. The area of one-room apartments varies from 39.6 to 51 sq. m., two-room – 57.1 to 80.6 sq. m., three-room – 81.1 to 106 sq. m., four-room – 105 to 123.4 sq. m. Accommodation corresponds to Class II Comfort and is sold in a fine finish.

Source: Baiterek