Experts: Kazakhstan housing discounts may reach 20-25%, asking prices up 8.21%

September 19, 2026 at 10:36 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Real transaction prices for apartments in Kazakhstan may be up to 25% below asking prices, as buyers wait for further declines. In Almaty, the secondary market price per square meter rose 8.21% year-on-year in August 2026 to 749,480 tenge, but market experts say actual deals are struck at significant discounts. Only 13.8% of listings on Krisha.kz saw a price reduction in the past 12 months, even as about 80% of all recorded price changes were downward.

Key Facts

In August 2026, the average price per square meter for secondary apartments in Almaty was 749,480 tenge, up 8.21% from 692,632 tenge a year earlier.
Market experts estimate that actual transaction discounts could reach 20-25% below the asking price.
Only 13.8% of apartment sale listings on Krisha.kz had at least one price reduction in the past 12 months.
About 80% of all recorded price changes on Krisha.kz were downward adjustments.
In December 2025, Kazakhstan registered a record 53,128 housing purchase and sale transactions, with Almaty second after the capital at 9,013 deals.

Price Statistics vs. Real Deals

The Bureau of National Statistics has published only transaction counts since the start of 2026, omitting the price data it released in 2025. The bureau's secondary market price index is based on asking prices in online listings and media advertisements, not actual transaction prices. Independent analyst and practicing realtor Elena Chekurova of Krysha Agent said real transaction prices are never published and that apartments are selling at substantial discounts to listed prices. Real estate market expert Alexander Pak explained that the initial listing price, current offer price, and final transaction price can differ significantly.

Seller Behavior and Buyer Expectations

Data provided by Krisha.kz in response to an inbusiness.kz request shows that most sellers do not lower their advertised prices. Over the past 12 months, only 13.8% of apartment sale listings recorded at least one price reduction. Among all recorded price changes, about 80% were downward adjustments. A year ago, the lowest advertised price for a one-bedroom apartment in Almaty's Orbita microdistrict without renovation and not on the first or last floor started at 24 million tenge. By summer 2026, similar offers appeared at 22 million tenge.