The role of the real estate market in the state economy

Abstract

Nowedays, in the Republic of Kazakhstan of the housing market and
construction of the development is carried out with the help of a reliable,
universal laws, implemented in education and approval of regulations and
standards. Deep introduction of a new housing policy to ensure that affordable
housing is social and economic effect.
The real estate market is a key element of the economy and a part of
the national wealth of a state. Its role is determined by the importance
of meeting the needs of the society in the residential and non-residential
premises, the share of the sector in the GDP, the multiplier effect on related
industries, etc. The article analyses statistical data for the period from
2010 to 2015 regarding the volume of housing construction in operation,
the volume of provided mortgage loans, the rate of price increase. On the
basis of the multiplicative effect data, the author concludes that there is a
need for public support of the real estate market in the aspects of demand
and supply.