In August 2026, 35,807 residential property purchase and sale transactions were registered in Kazakhstan. According to the Bureau of National Statistics, this is a 13.5% decrease compared to August 2025, when 41,380 transactions were completed. Compared to July of this year, the number of transactions decreased by 3.6%, Forbes.kz reported.
Real estate market activity has declined for the second consecutive month. In July, 37,158 transactions were registered, compared to 39,053 in June. Overall, the number of residential property transactions from January to August 2026 was 4.3% lower than the same period last year.
The highest activity was traditionally observed in the country's largest cities and economic centers. Almaty registered 7,690 transactions, or 21.5% of the total, while Astana registered 6,398 transactions (17.9%). Karaganda Region ranked third with 2,825 transactions (7.9%). The lowest figure was recorded in Ulytau Region, with 277 transactions.
The majority of transactions involved apartments in multi-apartment buildings. In August, 27,719 were registered, accounting for 77.4% of the total. Compared to July, this figure decreased by 3%. Sales of individual homes declined even more significantly, by 5.8%, to 8,088 transactions.
The August trend shows that Kazakhstan's housing market is gradually cooling. While this doesn't indicate a sharp downturn, two consecutive months of decline and a negative trend since the beginning of the year indicate more cautious buyer behavior.
One reason may be the decline in housing affordability amid high real estate costs and lending conditions. Buyers, particularly in Almaty and Astana, are likely postponing home purchases, waiting for more favorable terms or price stabilization.
At the same time, the concentration of transactions in Almaty and Astana demonstrates that demand remains closely tied to the largest urban markets, where jobs, investment, and internal migration are concentrated. Therefore, the current decline appears more like a demand adjustment than a large-scale market collapse.
If this trend continues through the end of the year, the Kazakhstani real estate market could end 2026 with a lower number of transactions than the year before. This will be an important signal for the construction sector, banks, and government housing finance programs.
CentralasianLIGHT.org
September 11, 2026