Apartment rental prices in Kazakhstan continue to rise in most cities. In just the first two weeks of August – from August 1 to August 18 – the median rental price increased by approximately 3.8%, reports infohub.kz.
Two- and three-bedroom apartments saw the sharpest increases. Nationwide, rents for two-bedroom units rose by 4.3%, and three-bedroom units by 4.2%. One-bedroom apartments increased by 2.5%.
The upward trend began in late July, when the average rental price across Kazakhstan rose by more than 3% in a month. One reason for the continued increase is the seasonal factor – as the new academic year approaches, students are more actively entering the rental market.
Aktau led the growth, with average rental prices rising by 9.5%. Almaty followed with an 8.6% increase. In Semey, apartments became 7.7% more expensive on average, in Pavlodar – 7.4%, and in Petropavlovsk and Turkistan – 5.6% each. They were followed by Karaganda (+5.3%), Aktobe (+4%), Astana (+3.9%), and Shymkent (+3.8%).
The price increase was particularly noticeable for larger apartments in Almaty. Renting a two-bedroom apartment rose from 300,000 to 340,000 tenge per month in just two weeks. Thus, tenants now have to pay 40,000 tenge more.
Three-bedroom apartments in the same period went from 410,000 to 450,000 tenge – also a 40,000 tenge increase. As a result, in the first half of August, rental prices for two- and three-bedroom housing in Almaty rose by approximately 10-13%.
Meanwhile, one-bedroom apartments have held steady at around 220,000 tenge. Their price had already increased in late July.
In the capital, the most noticeable changes were in one-bedroom housing. While at the beginning of August such an apartment could be rented for an average of 220,000 tenge, by August 18 the price had reached 240,000 tenge – a 9.1% increase.
Rents for two-bedroom apartments increased by 6.7%, from 300,000 to 320,000 tenge. Three-bedroom apartments have not yet been affected by the trend, with their median price remaining at around 500,000 tenge per month.
Despite the overall increase, some cities saw price drops for certain housing categories. In Kostanay, renting a three-bedroom apartment became 6.9% cheaper, falling from 290,000 to 270,000 tenge. In Taldykorgan, three-bedroom apartments decreased by 5.3%, with the median price dropping from 190,000 to 180,000 tenge.
Amid the seasonal rise in demand, the risk of encountering fraudsters also increases. Krisha.kz recommends not transferring money before viewing the property in person, checking the owner's documents, and always signing a written contract.
After moving in, it is also recommended to take photos of the apartment's condition and its contents. This can help avoid disputes with the owner when moving out later.