In July of this year, Kazakhstan recorded 37,158 housing purchase and sale transactions. This figure was 4.9% lower than in June and 6.5% less compared to the same period last year, according to the website infohub.kz.
Residential property prices in the country continue to rise, but the growth rate remains moderate—averaging less than 1% per month. Nevertheless, housing costs are now significantly higher than a year ago. At the same time, demand for housing from the population has noticeably declined. According to the Bureau of National Statistics, in July, Kazakh citizens purchased 37,158 housing units, reflecting a 4.9% monthly drop and a 6.5% annual decline in sales.
Almost all regions of the country have seen a decrease in demand. The only exceptions were six regions where growth was recorded: Shymkent (+14.2% month-on-month), West Kazakhstan Region (+14%), Zhambyl Region (+11.5%), Astana (+8.7%), Almaty (+6.2%), and Zhetisu Region (+2.8%).
The largest number of housing purchase and sale transactions in July was made in Almaty—7,263. Astana came second with 6,999 transactions. The top three is rounded out by Karaganda Region, where 2,688 transactions were registered in a month. The lowest sales were recorded in Ulytau Region—only 311 transactions.
As for the structure of purchased housing, in July, Kazakh citizens bought 28,785 apartments and 8,583 private houses. Among apartments, two-room units were the most popular—11,056 transactions were concluded. One-room apartments came second with 10,848 transactions, followed by three-room apartments (5,488 purchases). Apartments with more rooms accounted for only 1,183 transactions.
Earlier, experts expressed the opinion that housing in Kazakhstan could become more expensive if the state extends the ban on the import of construction materials. At the same time, some analysts believe that mortgages could become more affordable if the National Bank continues to lower the base rate and inflation steadily slows down. Additionally, we reported on where in Almaty it is cheapest to live.