The National Statistics Bureau QazStat has published current data on housing market prices. The editorial team of FBRK decided to conduct an independent study and examine price listings in Astana, Almaty and Shymkent.
According to official statistics, the average cost per square metre in new builds in Astana is 581,258 tenge, in Almaty – 582,175 tenge, and in Shymkent – 462,178 tenge.
On the secondary market the figures differ slightly: Astana – 659,092 tenge, Almaty – 597,427 tenge, Shymkent – 441,576 tenge.
On average across Kazakhstan, the price per square metre for new housing is 499,983 tenge, and for resale flats from owners - 526,788 tenge.
To check how these figures relate to actual market listings, our editorial team conducted an independent monitoring of flat sale advertisements. We analysed advertisements for different numbers of rooms in each of the country's three largest cities.
As a result, we found a wider price range. In Astana, the cost per square metre in new builds can start from 345,000 tenge and go up to 1,200,000 tenge, and on the secondary market the spread is even wider – from 385,714 to 1,600,000 tenge per square metre.
In Almaty, the situation is even more telling: prices in new builds range from 350,000 to 1,800,000 tenge, and on the secondary market – from 449,536 to 1,400,000 tenge.
Shymkent shows more moderate figures: a square metre in new builds can be found for from 360,000 to 897,000 tenge, and on the secondary market – from 263,783 to 596,330 tenge.
It is interesting to note that the official statistics show average values, which lie roughly in the middle of the price ranges we identified. This suggests that the data from the National Statistics Bureau reflects a sort of golden mean of the market, while actual listings can deviate significantly both upwards and downwards.
However, it is important to note that our study did not consider significant factors such as the city district, housing class, and property condition.
At the same time, QazStat's methodology includes a sample of one-, two-, and three-room flats on the primary housing market, including those built under state programmes.
For resales, specialists take into account flats with specific characteristics reflecting their typical parameters. When analysing rentals, they assess the quantitative and qualitative characteristics of the housing, including location, number of floors, area, availability of furniture, and amenities.
Nevertheless, comparing official statistics with actual market listings allows potential buyers to better navigate prices and understand that the cost per square metre is influenced by a multitude of factors, and that the average price is indeed an averaged indicator from which significant deviations in either direction are possible.