In August 2026, 35,807 real estate transactions were registered in Kazakhstan. According to the National Statistics Bureau, the number of operations decreased by 3.6% compared to July. In July, 37,158 transactions were recorded.
The decline has been recorded for two consecutive months: in July, the number of transactions also decreased by 4.9% compared to June.
However, the dynamics varied significantly across regions.
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Where transactions increased
The leaders in the number of registered transactions in August were Almaty, Astana, and Karaganda region.
Almaty recorded 7,690 transactions, accounting for 21.5% of the total. Astana recorded 6,398 transactions, or 17.9%. In third place is Karaganda region with 2,825 transactions, or 7.9%.
The fewest transactions were registered in the Ulytau region — 277 deals, or 0.8% of the total.
The largest increase in the number of transactions compared to July was noted in:
- In Almaty — by 5.9%;
- In Kostanay region — by 5.5%;
- In Karaganda region — by 5.1%.
At the same time, the most significant decline over the month was recorded in:
- In Almaty region — by 21.1%;
- In Atyrau region — by 15.7%;
- In Zhambyl region — by 13.7%.
Thus, the nationwide decline of 3.6% was shaped by divergent dynamics across regions.
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Transactions with apartments fell by 3%
The bulk of registered transactions still involve apartments in multi-family buildings.
In August, 27,719 such transactions were registered. This is 3%, or 856 transactions, less than in July. The share of transactions involving apartments in multi-family buildings was 77.4% of the total.
The largest share of these transactions was in Almaty — 26%, Astana — 22.6%, and Karaganda region — 8.4%.
Among apartments, one‑room units led in the number of registered transactions — 10,806 such operations were completed in August.
For comparison, in July the most numerous category was two‑room apartments — 11,056 transactions.
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Transactions with individual houses decreased
A decline was also recorded in the individual house segment.
In August, 8,088 transactions were registered, which is 5.8%, or 495 transactions, less than the July figure.
However, in some regions the number of transactions increased. The largest positive dynamics were noted in:
- In Kyzylorda region — 7.8%;
- In Karaganda region — 6.3%;
- In Jetisu region — 2.7%.
The most substantial decline was recorded in East Kazakhstan region — 15%, Almaty — 14.6%, and Aktobe region — 12.3%.
Инфографика создана с помощью ИИ
Over the year, the number of transactions fell by 13.5%
On an annual basis, the decline was significantly more pronounced.
In August 2025, 41,380 transactions were registered in Kazakhstan, compared to 35,807 in August 2026. Thus, over the year, the number of registered real estate sales transactions decreased by 13.5%.
The dynamics varied across regions. The largest growth over the year was recorded in Turkestan region — 9.8%. The maximum decline was noted in Astana — 32.3%.
Overall, for the period from January to August 2026, the number of registered real estate sales transactions was 4.3% lower than in the same period of 2025.
Thus, in August, activity in the housing market continued to decline both month‑on‑month and year‑on‑year. However, the regional picture remains uneven: in Almaty and some regions, the number of transactions increased over the month, while in other regions the decline was significantly higher than the national average.
Expert: August’s decline in transactions linked to seasonality and affordability
— I would attribute the 3.6% decline in transactions in August compared to July primarily to typical seasonal dynamics. August is the final month of summer; many people are still on vacation. Additionally, this is the period when families prepare children for the school year, so some buyers postpone solving their housing issues.
At the same time, a 13.5% decline in transactions year‑on‑year already indicates more restrained buyer activity. One likely reason is the expectation of more favorable market conditions. Despite the reduced number of deals, housing prices continue to rise. Therefore, for some buyers, real estate is becoming less affordable, and they prefer to postpone purchases. Nonetheless, the need for housing remains.
Buyers have become more price‑sensitive, and mortgages narrow the pool of real buyers
The differing dynamics across regions are explained by the specifics of each market. Activity is influenced by housing prices, income levels, and the proportion of mortgage buyers. Therefore, identical changes in rates or prices can affect the ability of residents in different regions to purchase real estate in different ways.
Today’s buyer has become much more sensitive to the overall purchase price. This applies to both secondary housing and new buildings: I do not currently observe any significant difference in demand between these segments.
However, mortgages do affect the number of transactions. Banks more carefully assess borrowers’ incomes and credit histories; in some cases, the time required to process applications has increased. The size of the down payment is also significant.
There are clients who receive bank approval but, after calculation, realize that the monthly payment is too high for them. As a result, even with approval, a person may decline the purchase. All these factors reduce the number of buyers who are genuinely ready to proceed with a transaction.
No price decline is evident yet, but illiquid properties are gradually becoming cheaper
The time required to sell an apartment depends primarily on its price and liquidity. If the price matches the market, the apartment receives more views and offers. The number of rooms, floor, condition, and location also matter. When mortgage accessibility decreases, the pool of potential buyers narrows, which can also extend the selling period.
The most active demand traditionally is for the most affordable apartments. Therefore, one‑room and two‑room units usually sell faster than others.
I am not yet seeing any noticeable price decline in the market. Some owners need to sell an object quickly; they are more likely to heed expert advice and adjust the price. In other cases, the price decreases gradually — to a level that corresponds to the current market situation.
In autumn, demand may pick up, so buyers should not expect a general price decline
In autumn, in my view, the market should become more active. The vacation season is ending, the school year is beginning, creating additional demand from those purchasing housing for students. Additionally, many buyers aim to resolve their housing issue before winter arrives.
If a person plans a purchase in the coming months and has already found a suitable property at an acceptable price for them, I would advise against postponing the transaction solely in anticipation of a general price decline. Not every decline in market activity means that a specific good property will subsequently become cheaper.
This is especially important when purchasing with a mortgage: in addition to the apartment’s price, it is necessary to assess credit availability and the size of the monthly payment. Therefore, it is better to make a decision based on the specific property, its cost, personal financial capabilities, and the terms of the mortgage loan.