Significant increase observed in housing rates across Kazakhstan.
In July 2025, the National Statistics Bureau published data on the housing price situation in Kazakhstan, revealing a mixed picture across the country.
Primary housing prices saw an increase in several cities, with Kyzylorda experiencing a 2.4 percent rise and Nur-Sultan and Aktobe recording a 0.3 percent and 2.8 percent increase respectively. However, there were no changes in primary housing prices in many cities, including Almaty and Atyrau.
Rental prices for improved housing also varied, with Semey and Kokchetav witnessing significant increases of 23.2 percent and 21.6 percent respectively. Aktobe and Aqtau saw a 6.9 percent and 3.6 percent increase in rental prices, while Kyzylorda experienced a 2 percent decrease. Renting a square meter in Almaty remains the most expensive at 5,299 tenge, followed by Nur-Sultan and Atyrau. The most budget-friendly offers can be found in Taraz, Turkistan, and Kyzylorda.
On the secondary market, the most significant increases were recorded in Aktobe (+19 percent), Pavlodar (+15.8 percent), and Almaty (+14.4 percent). Aqtau saw a 0.4 percent decrease, while Ust-Kamenogorsk and Shymkent experienced a 1.4 percent and 2.4 percent decrease in secondary housing prices respectively.
The government's recent attempt to forecast housing price changes was prompted by the upcoming change in the Value-Added Tax (VAT) rate. From January 1, 2026, the VAT rate will increase from 12 percent to 16 percent, a move expected to raise construction costs and potentially lead to higher housing prices. Construction companies will face a higher tax burden on inputs and services, and these additional costs are likely to be passed on to buyers through increased home prices.
The rise in VAT will affect prices of building materials, contractor services, and other inputs in construction, thus driving up the overall cost of housing construction. While exemptions and reduced rates were introduced for some sectors, housing construction does not appear to fall under such relief and will experience the full VAT rate increase.
First Deputy Prime Minister Roman Sklyar discussed potential housing price changes from 2026, when the new Tax Code comes into effect. He emphasised the need for the construction industry to adapt to the new tax environment and for the government to monitor the impact on housing prices.
Affordable housing can still be found in Kyzylorda, Aktau, and Kokchetav. It is worth noting that a mandatory housing insurance is set to be introduced in Kazakhstan, a development previously reported in the article "Read also: 'This will not be a heavy burden.' Mandatory housing insurance to be introduced in Kazakhstan".
This update provides a snapshot of the housing market in Kazakhstan as of July 2025. As the new Tax Code comes into effect in 2026, it will be interesting to see how the housing market evolves and how the construction industry adapts to the increased VAT rate.
Investors considering real-estate in Kazakhstan might find opportunities in cities with lower housing prices, such as Kyzylorda, Aktau, and Kokchetav. The government's upcoming increase in the Value-Added Tax (VAT) rate from 12 percent to 16 percent in January 2026 could potentially drive up housing prices, necessitating careful financial planning for those investing in the housing market.
