Stabilization of prices on housing market is expected in 2008 - the head of state mortgage company

/INTERFAX-KAZAKHSTAN, Almaty, December 11, 07/ - The Chairman of the Board of state Kazakhstan mortgage company JSC Azamat Ibadullaev expects stabilization of prices on the local housing market next year. "Correction on the market (of housing - IF-K) is being felt, and it will be felt next year as well. (...) The correction will still keep present in January, February; the extreme month is March. Then, the situation will stabilize, and we will have more or less fair price, but not the speculative one that existed prior to August", - he said during the press conference in the press center of Interfax-Kazakhstan agency in Almaty on Tuesday. According to him, "the golden mean will be revealed", which "would lead to stabilization of banking risks in mortgage field". KMC is working on financial market of republic since December 2000 in the frames of realization of state habitation program. Main directions of activities of KMC are purchasing of requirement rights on long term mortgage habitation loans, given by banks, and also borrowing of long term resources for mortgage crediting, including by issuing of own mortgage securities. Shareholder of company is government in face of Ministry of finance. [2007-12-11]