67% of real estate mortgages are registered online

Kazakhstanis prefer to register encumbrances on real estate online. Compared to the previous year, the number of transactions made using Blockchain technology has increased 2.5 times. In the first quarter of 2024, about 25 thousand operations were performed.

Today, it is possible to register a pledge (re-pledge) and its termination online through second-tier banks. It should be noted that this service is most popular in Astana, Almaty and Shymkent, as well as in Turkestan, Karaganda and Almaty regions.

In addition, the State Corporation has implemented the possibility of registering the assignment of claims under the loan agreement and changes in encumbrances as a result of changes in the terms of the agreement. Registration of collateral with non-residential premises has also become available.

By the way, Blockchain technology simplifies the issuance of loans by banks secured by real estate in terms of online loan processing, reduces costs and shortens the time for consideration of applications. So, Blockchain has reduced the time for apartment registration from 3 days to 1 hour.