Not so long ago, the editorial team of FBRK conducted an analysis of the housing price index in the Karaganda region. This time, let's try to understand the situation with demand for residential property in the region.
According to the Bureau of National Statistics, in 2023 demand for housing in Kazakhstan fell by 20%. Last year, Kazakh citizens concluded around 370,551 property purchase and sale transactions, which is 20.5% less than in 2022 (465,822 transactions).
In January 2024, demand for housing in Kazakhstan fell by 16%. A negative trend was recorded in almost all regions, except Almaty. Nevertheless, the top three cities by number of transactions in January traditionally included Almaty (8,246 transactions), Astana (5,623 transactions) and Karaganda region (2,274 transactions).
According to the Bureau of National Statistics, compared to December 2023, the number of transactions for apartments decreased by 13.3%. The main share of apartment sales falls on the same Almaty, Astana and the Karaganda region - 7.5%. Transactions for houses for the month fell by 26.3%. A decrease was observed in all regions of Kazakhstan.
In February, demand for housing in Kazakhstan decreased by 3.7%. Demand fell in 9 out of 20 regions of Kazakhstan. The largest reduction in transactions occurred in Almaty, the Ulytau region and the Abai region. At the same time, in 11 regions interest in buying housing increased. The largest growth in transactions was registered in the Pavlodar region, the East Kazakhstan region and Shymkent.
In February, transactions for apartments decreased by 4.4%, and for houses - by 0.8%. The main share of apartment sales once again fell on Almaty, Astana and the Karaganda region. Private housing was mainly purchased in Astana, Almaty and the East Kazakhstan region.
In March, demand for housing in Kazakhstan fell by a further 13.6%. Housing transactions fell to nearly a yearly low, counting from March 2023. A negative trend was recorded in all regions of Kazakhstan.
In March, transactions for apartments decreased by 15.1%. The main share of sales in this segment, as before, fell on Astana, Almaty and the Karaganda region. The number of purchase/sale transactions for private houses compared to February decreased in almost all regions of Kazakhstan overall by 7.4%.
Demand for housing in Kazakhstan started to grow only in April – and immediately by 20%. Growth occurred in almost all regions. 12.5% more transactions for apartments were made than the previous month. The leaders in apartment sales remain Astana, Almaty, and the Karaganda region.
Transactions for private houses also grew significantly - by 40.5%. This is a record since the start of the year. An increase is observed in all regions; most houses in April were sold and bought in the Ulytau region, Atyrau region and Kostanay region.
As for the Karaganda region, the maximum decrease in the number of transactions in 2023 was a significant 43%. Despite this, at the end of the year, the Karaganda region maintained its position among the leaders in property purchase and sale, taking third place (33.2 thousand transactions) after Almaty (66.2 thousand transactions) and Astana (62.7 thousand transactions).
According to the website krisha.kz, the average cost of a new one-bedroom apartment in Karaganda is 11.7 million tenge, a two-bedroom apartment is 18.3 million tenge, a three-bedroom is 23.8 million tenge and a four-bedroom is 32 million tenge. Meanwhile, the minimum area of new property is 40.09 m², and the maximum area is 116.71 m².
The average price per 1 m² in a one-bedroom apartment in Karaganda is 275,714 tenge, in a two-bedroom - 286,111 tenge, in a three-bedroom - 287,500 tenge, and in a four-bedroom - 290,000 tenge. For comparison, we provide average prices in other cities of regional significance: Almaty (604,780 tenge/m²), Astana (403,565 tenge/m²), Atyrau (368,630 tenge/m²), Shymkent (342,188 tenge/m²).