Housing prices in Kazakhstan keep rising

Housing prices in Kazakhstan keep soaring, both for primary and secondary ones. According to the Bureau of National Statistics, new buildings went up by almost 2 percent in a month. In monetary terms, a square meter in the country rose in price by about 7,000 tenge, analysts of the First Credit Bureau said. The highest housing prices of over 545,000 tenge per square meter were recorded in the capital, and the lowest of 160,000 tenge – in Taraz city.

The situation is slightly better in the secondary housing market. The cost per square meter increased only by one percent, which is the minimum growth in eight months, experts noted. Prices for secondary apartments, as well as rent, have been hitting record high for the last year and the beginning of 2022. Nevertheless, second homes rose in price in 13 cities in May, mostly in Oskemen, Kyzylorda and Aktau. On the contrary, prices for secondary housing in the capital came down.

Translation by Saniya Sakenova

Editing by Saule Mukhamejanova