Analysis of the real estate market in Kazakhstan

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The real estate market in Kazakhstan makes a significant contribution to the country's economy and the majority of local and foreign investment in Kazakhstan is in real estate.

In 2021-2022, the real estate market saw its greatest activity thanks to government part time data incentives: pension savings and preferential mortgages. Today, the real estate market has begun to stabilize and housing prices are rising at a slower rate.

In April 2023, prices for existing housing increased by 3.8%, and for new housing - by 7.8% compared to the previous year. Housing in new buildings became more expensive by 9.3%, and rent for rented housing increased by 27.6%. The average cost of buying a home in Kazakhstan is 489.2 thousand tenge (approximately $ 1097.6) per square meter, and the rental cost is 4.6 thousand tenge per square meter. The highest real estate prices are in Almaty and Astana.

Under the influence of economic instability in the world, the increase in retirement thresholds and changes in the provision of loans, a decrease in housing purchases was observed at the beginning of 2023.