Housing demand down 20% in Kazakhstan in 2023

Photo credit: Alina Tuleubayeva/ Kazinform

Kazakhstan saw 370,551 real estate deals in 2023, down 20.5% compared with 2022 (465,822), Kazinform News Agency cites Krisha.kz. 

According to the National Statistics Bureau, the downward trend was observed in almost all the regions, except for Abai, Zhetysu, and Ulytau regions founded not a long ago.

Karaganda and East Kazakhstan regions saw the biggest decline in the number of real estate deals (by more than 43% in each region). The number of real estate deals deceased by 37.1% and 33.4% in Mangistau and Atyrau regions, respectively. Astana, Almaty and Shymkent cities recorded 3.5%, 9.7% and 13% reduction in demand for housing.

Almaty, Astana and Karaganda regions led the nation in terms of the number of real estate deals – 66.2 thousand, 62.7 thousand, and 33.2 thousand, respectively.

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