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In a notable shift for the nation's property sector, Kazakhstan's secondary housing market recorded its first price decline of the year in April. This marks a significant change after several months of consistent price increases.

April Price Adjustments

Compared to March, the average price of housing saw a slight decrease of 0.1% in April. This downward trend was observed across 10 out of the 18 cities surveyed nationwide. The most substantial price drops were recorded in Aktau, where prices fell by 2.1%, followed by Turkistan at -1.3%, and Oral at -0.8%.

Most Expensive and Affordable Cities

Almaty continues to hold its position as the most expensive city in Kazakhstan, with an average price of 819,600 tenge per square meter. In contrast, the most affordable city is Kyzylorda, where housing prices do not exceed 270,000 tenge per square meter.

Yearly Trends and Rental Market

Despite the recent dip, the year-on-year housing price increase remains significant at 8.1%. Astana experienced the largest annual price surge, with a notable 17.7% increase. Earlier reports also indicated a decrease in rental prices across many regions of Kazakhstan, suggesting broader shifts in the housing market.

This development was reported by the Infohub.kz information agency.