Kazakh property prices go up in June. The price of new housing go up in 12 cities but this doesn’t stop buyers
Prices and purchases in the housing market. June 2016
The price of new and existing housing went up by 13.6% and 10.6% year on year respectively in Kazakhstan in June. New housing cost KZT252,700 per square metre and existing housing was worth KZT191,400 per square metre. The difference in prices on the primary and secondary property markets (25%) did not practically change in the past year (22-23% now).
The most expensive new housing was in the capital in June (KZT343,700 per square metre, 36% more the national average). Atyrau Region came second with KZT322,600 (28% more the national average). The third was Almaty where the price of new housing reached KZT319,400 per square metre (26% above the average price of new housing in Kazakhstan).
Compared to April 2015 the highest growth rates of new housing prices were recorded in Pavlodar Region (+31.7%) and Mangistau Region (20.5%) while the prices of new housing did not change in Zhambyl, Kyzylorda and Almaty Regions and even fell in North Kazakhstan Region, East Kazakhstan Region, West Kazakhstan Region and Aktobe Region.
The number of purchase deals of flats in blocks of flats increased by 30% year on year to 10,384 in May. Sales of detached houses also increased by 17% year on year to 5,315 in May. Traditionally, the number of flats sold is twice as high as the number of detached houses sold.