Residential Real Estate - Kazakhstan

The Residential Real Estate market market in Kazakhstan is projected to reach a value of US$667.00bn by 2024.
It is expected to exhibit an annual growth rate of 6.02% from 2024 to 2029, resulting in a market volume of US$893.50bn by 2029.
In comparison to other countries, China is forecasted to generate the highest value in the Real Estate sector, amounting to US$112.9tn in 2024.
The residential real estate market in Kazakhstan is experiencing a surge in demand due to increased foreign investments.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Kazakhstan has been experiencing significant growth and development in recent years.

Customer preferences: In line with global trends, customers in Kazakhstan are increasingly looking for residential properties that offer modern amenities and conveniences. There is a growing demand for properties with high-quality finishes, spacious layouts, and access to recreational facilities. Additionally, customers are placing a strong emphasis on energy efficiency and sustainability, seeking properties that are environmentally friendly and cost-effective in the long run.

Trends in the market: One of the key trends in the residential real estate market in Kazakhstan is the rise of mixed-use developments. These developments combine residential, commercial, and recreational spaces in a single location, creating vibrant communities where residents can live, work, and play. This trend is driven by the desire for convenience and the need to optimize land use in urban areas. Mixed-use developments offer residents access to a range of amenities and services, such as shopping centers, restaurants, and fitness facilities, all within walking distance of their homes. Another trend in the market is the increasing popularity of gated communities. These residential complexes offer a sense of security and exclusivity, appealing to customers who value privacy and a tranquil living environment. Gated communities often feature amenities such as landscaped gardens, swimming pools, and 24-hour security, providing residents with a high standard of living.

Local special circumstances: Kazakhstan's rapidly growing economy and increasing urbanization rates are contributing to the development of the residential real estate market. As more people move to cities in search of better job opportunities and a higher standard of living, the demand for housing is on the rise. This has led to the construction of new residential developments and the renovation of existing properties to meet the needs of the growing population.

Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the residential real estate market in Kazakhstan. The government's focus on infrastructure development and urban renewal projects has created a favorable environment for real estate investment. Additionally, low interest rates and favorable mortgage lending conditions have made it easier for individuals to purchase residential properties. The strong economic growth and stable political climate in Kazakhstan have also attracted foreign investors, further stimulating the real estate market. In conclusion, the residential real estate market in Kazakhstan is experiencing growth and development due to customer preferences for modern amenities and conveniences, the rise of mixed-use developments and gated communities, the country's rapidly growing economy and increasing urbanization rates, and favorable macroeconomic factors such as infrastructure development, low interest rates, and foreign investment.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

The global housing market has slowed amid high inflation and soaring borrowing costs. Homeownership is one of the most universal signs of success and prosperity: It serves both as a source of stable and secure housing and a long-term investment. After the global financial crisis, property prices rose in many countries and especially in advanced economies. For more than a decade after that, the housing market has been on an upward trajectory, culminating in the housing boom during the COVID-19 pandemic. However, housing shortages in highly competitive markets, the recent rapid house price growth, soaring inflation, and consequently, some of the highest mortgage interest rates recorded in the past 10 years have led to the market cooling.

Soaring inflation and aggressive mortgage interest rate hikes cooled the European housing market after a nearly decade-long period of growth. Since 2015, house prices in the European Union have grown by about 50 percent. When inflation in Europe started to rise at an alarming rate in 2021, the European Central Bank increased interest rates, resulting in substantially higher mortgage interest rates and a decline in homebuying. But how important is homeownership for Europeans?

Generally considered the third key pillar of the food, clothing, and shelter trinity popularized in India over generations, owning a home is still prioritized as a measure of financial security by a vast majority of the Indian population. The COVID-19 pandemic with its successive lockdowns and restrictions to stay within the confines of one’s home, further reinforced this vision. India’s growing urban population, rising household incomes, and decade-long low-interest rates have been propelling the demand for residential units, driving up the sales volume. Even though the residential real estate sector was severely hit in 2020, it marked a strong recovery in consecutive years, crossing pre-COVID sales figures.

Residential Real Estate - Kazakhstan

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

Financial

Access more Market Insights on Financial topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Global housing market - statistics & facts

Explore more high-quality data on related topic

Residential real estate in Europe - statistics & facts

Explore more high-quality data on related topic

Residential real estate in India - statistics and facts

Contact

Get in touch with us. We are happy to help.

Residential Real Estate - Kazakhstan

In-Scope

Out-Of-Scope

Related markets:

Residential Real Estate: market data & analysis

Financial

Access more Market Insights on Financial topics with our featured report

Explore more high-quality data on related topic

Global housing market - statistics & facts

Explore more high-quality data on related topic

Residential real estate in Europe - statistics & facts

Explore more high-quality data on related topic

Residential real estate in India - statistics and facts