Demand for housing in Kazakhstan affects the increase in cost
Housing prices in Kazakhstan continue to rise. Since February 2025, the cost of apartments has risen by 1.3%. The average price per square metre is around US$788. This indicates high demand and limited supply.
The most dynamic cities are the following:
1. Aktau led the way in terms of price growth. Here the price rise was almost 11%. The annual growth rate was 24%.
2. The cost of a square metre in Astana increased by almost 2%, with an annual dynamic of about 9%.
3. On the Almaty market, prices rose by 1.2%. Over the year, the figure was 6%.
4. Analysts recorded high price growth in the secondary market in Atyrau – 17%.
5. In Kostanai, the price of apartments rose by 9%.
Not all regions of Kazakhstan experienced such a sharp rise in housing prices. In Taraz, the cost of a square metre of housing did not change, being around US$614. Over the year, prices here fell by 1.4%. The cost of housing in Karaganda, Aktobe and Taldykorgan also fell.
Reasons for the price increase
According to expert Elvira Sagandykova, the main reason for the rise in property prices is the imbalance in the market. In large cities, construction is not keeping pace with demand. The population is growing rapidly and the supply of housing is limited.
Another factor is high inflation. The situation is made worse by the devaluation of the national currency in 2024. Hoping to preserve their savings, Kazakhstanis are investing them in property. At the same time, the cost of property on the secondary market is rising more slowly than the country’s inflation rate. This trend indicates a deterioration in purchasing power and a decline in demand.
Kazakhstan market outlook
Analysts predict that house prices will continue to rise. The average annual growth rate is expected to be 5-8%. The greatest demand will be for residential complexes with closed infrastructure. Experts also believe that one- and two-room apartments will be the most popular on the market. These options are considered the best in terms of liquidity.
In addition, apartments of up to 60 square metres will be in high demand. It is possible to take out a mortgage to buy these apartments. Such options are popular on the market and quickly find buyers.
It is predicted that the cost of new buildings in 2025 will be unstable. It may rise and fall as a result of devaluation and tax reforms. Despite this, house prices will continue to rise against the backdrop of a lack of supply in the market. At the same time, demand for existing homes will be higher than for new ones. However, buyers will prefer newly renovated apartments that can be moved into immediately.