Who can buy property in Kazakhstan?

As per Article 9 of the Law foreign individuals can only purchase property in Kazakhstan if they are permanent residents. However, legal entities with foreign investments are permitted to acquire residential property without restrictions. It is important to note that the acquisition of agricultural land by foreigners is prohibited under the Land Code.

The process of obtaining permanent residency can be lengthy and requires fulfilling specific criteria, such as having a long-term work permit or significant financial investment in the country. While foreign businesses may invest in real estate, including commercial properties, the ownership of land, particularly agricultural land, remains restricted to Kazakh citizens or legal entities.

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As Central Asia’s largest economy, Kazakhstan has become increasingly attractive to foreign investors, with a stable political environment and ongoing development in key sectors such as energy, mining, and finance. The government has implemented reforms to encourage foreign investment, including favorable tax policies and efforts to improve transparency in the real estate market.

Real estate in Kazakhstan remains relatively affordable compared to other global markets, providing excellent potential for long-term appreciation. Cities like Almaty and Nur-Sultan (Astana) are experiencing rapid urbanization. These cities offer high rental yields, especially for foreign investors looking to benefit from the country’s increasing population and urban expansion. The development of new infrastructure, such as improved transportation networks and business districts, further enhances the appeal of real estate investments in urban centers.

The demand for modern housing, offices, and retail spaces is rising as Kazakhstan’s middle class grows and more international companies establish a presence in the country. Additionally, Kazakhstan’s proximity to Russia, China, and Europe provides a favorable position for logistics and trade, making the real estate market even more promising. Overall, Kazakhstan’s economic growth and emerging real estate market create an attractive investment climate for those seeking high returns and growth potential.

Below are some sought-after destinations for real estate investment in Kazakhstan:

• Almaty - As the largest city and financial hub of Kazakhstan, Almaty is a prime location for residential and commercial real estate investment. Known for its modern skyline, cultural attractions, and proximity to the mountains, Almaty offers a range of properties, including luxury apartments and office spaces. Areas like Esentai, Samal, and the city center are particularly popular due to their vibrant lifestyle and premium amenities.
• Nur-Sultan (Astana) - The capital city of Kazakhstan, now called Astana, is a rapidly developing urban center with futuristic architecture and significant infrastructure projects. Residential and commercial properties in areas like Yesil District and the city’s central business district are attractive to investors looking to capitalize on the city’s growing importance as a political and economic hub.
• Shymkent - One of Kazakhstan's largest cities, Shymkent is known for its industrial base and growing economy. Real estate here offers a balance between affordability and potential growth, with opportunities in both residential and commercial sectors. Shymkent’s development into a major urban center has drawn attention from investors seeking high returns.
• Aktau - Located on the Caspian Sea, Aktau is a coastal city with a growing tourism industry and strategic importance for trade. Investment opportunities include waterfront apartments, vacation homes, and commercial properties linked to the city’s maritime activities. The city’s appeal is enhanced by its natural beauty and industrial significance.
• Karaganda - As an industrial city with a rich history, Karaganda offers affordable real estate options and potential for growth. The city is an emerging market for investors interested in residential properties or projects tied to its mining and industrial sectors.
• Pavlodar - Situated in northeastern Kazakhstan, Pavlodar is known for its energy and manufacturing industries. The real estate market here is characterized by affordability, making it attractive for investors seeking long-term growth in a city with economic stability.

Where to find properties online:

• https://krisha.kz/
• https://apartamenty.kz/

Financing

Foreigners can obtain mortgage loans in Kazakhstan, but there are certain conditions and requirements that may apply. Banks in Kazakhstan typically offer mortgage loans to non-residents, but these loans are subject to specific terms. Foreigners may need to provide proof of stable income, a valid work permit, or other forms of documentation to demonstrate financial stability. Additionally, banks often require a higher down payment compared to local residents, and the loan terms may be more restrictive.

Due Diligence and Sales Contract 

Conducting due diligence is a critical component of real estate transactions in Kazakhstan. This process ensures that properties are free from legal complications such as encumbrances, disputes, or claims that could impede the purchase. It involves verifying the property's title to confirm the seller's legal authority to sell.

In Kazakhstan, the closing process typically involves the services of a legal advisor or consultant who prepares the necessary legal documents, conducts a thorough title search, and facilitates the transfer of ownership. Engaging a qualified legal professional is essential to ensure that the transaction adheres to Kazakh legal standards and that all requisite procedures are meticulously followed. This professional will review all documentation and provide an opinion on the property's title, offering assurance similar to title insurance in other jurisdictions.

Property Buying Costs and Taxes in Kazakhstan