Kazakhstan's Residential Property Market Analysis 2025
The housing market in Kazakhstan continues to adjust to the aftermath of recent shocks, with the growth of sales prices and rents gradually stabilizing and new construction reaching record highs amid government efforts to reform the residential sector.
This extended overview from the Global Property Guide covers key aspects of Kazakhstan's housing market and takes a closer look at its most recent developments and long-term trends.
Table of Contents
- Housing Market Snapshot
- Historic Perspective
- Demand Highlights
- Supply Highlights
- Rental Market
- Mortgage Market
- Socio-Economic Context
Housing Market Snapshot
In 2024, Kazakhstan's residential real estate market demonstrated signs of stabilization, with a slight increase in house prices. According to the Bureau of National Statistics of Kazakhstan (BNS), the Nationwide Primary House Price Index recorded a year-on-year growth of 2.97% in December 2024 (5.18% decrease when adjusted for inflation). Similarly, the Secondary House Price Index rose by 4.16% year-on-year (fall of 4.09% inflation-adjusted).
Kazakhstan’s house price annual change
In nominal terms, the BNS reported that the average price per square meter in the primary housing segment reached KZT 500,198 (USD 963) nationwide in December 2024. In the secondary segment, prices averaged KZT 516,203 (USD 993). Among major cities, Astana registered the highest average sales prices, with secondary properties priced at KZT 649,762 (USD 1,250) per square meter and primary properties at KZT 582,512 (USD 1,121) per square meter. Almaty followed closely in terms of pricing dynamics.
Average house prices per square meter in the five largest cities:
Primary Sales, per sqm |
YoY, Dec 2024 vs Dec 2023 |
Secondary Sales, per sqm |
YoY, Dec 2024 vs Dec 2023 |
|
Almaty | KZT 582,512 (USD 1,121) |
0.86% | KZT 588,625 (USD 1,133) |
-3.81% |
Astana | KZT 595,466 (USD 1,146) |
1.13% | KZT 649,762 (USD 1,250) |
12.90% |
Shymkent | KZT 444,090 (USD 855) |
1.92% | KZT 421,131 (USD 810) |
-2.12% |
Aktobe | KZT 286,063 (USD 550) |
10.23% | KZT 307,025 (USD 591) |
0.40% |
Karaganda | KZT 369,070 (USD 710) |
0.59% | KZT 385,623 (USD 742) |
-0.44% |
Kazakhstan | KZT 500,198 (USD 963) |
1.07% | KZT 516,203 (USD 993) |
4.42% |
Note: Exchange rate as of December 2024, USD 1 = KZT 519.65. | ||||
Data Source: BNS. |
Ramazan Dosov, Chief Analyst at the Association of Financiers of Kazakhstan, commented in an interview with the real estate portal kn.kz that no significant disruptions capable of altering the housing market are expected in the near term. At the same time, he pointed out potential measures under discussion that could impact the primary housing segment, such as the removal of the VAT exemption on primary residential property sales, which was included in the draft of the new Tax Code. "As in the past eight years, government policy will remain a key driver of market dynamics. If more concessional funding is allocated or further access to pension savings is permitted, an inevitable rise in house prices would follow. The same applies if the proposed tax code changes are approved and developers pass the new tax burden onto final purchasers," added Dosov.
Halyk Research attributes the significant price fluctuations over the recent years to a mismatch between supply and demand, particularly during periods of active government intervention. "Government programs offering low-interest mortgage loans and the opportunity to use pension savings for housing purchases significantly boosted demand. However, limited growth in construction failed to meet this demand, resulting in rising prices. To ensure sustainable market development and housing affordability for all segments of the population, it is critical to balance government support by aligning demand stimulation with supply expansion," notes Akbobek Akhmedyarova in their latest historical analysis and outlook for Kazakhstan's housing market. Considering the most recent developments on both demand and supply sides of the market, Halyk Research forecasts a 5.8% year-on-year increase in primary housing prices in 2025, accelerating to 6.8% in 2026. Secondary housing prices are projected to rise by 6.2% in 2025 and 5.8% in 2026.
Historic Perspective:
The Interplay Between Economic Forces and Government Policies
Between 2005 and 2007, Kazakhstan's residential real estate market expanded rapidly, driven by robust economic growth, increased credit availability, and substantial foreign capital inflows. Banks actively directed these funds into construction and mortgage financing, significantly boosting housing demand. By 2007, property prices surged, with primary housing up 30% year-on-year, secondary housing 43%, and rental rates 24%. The 2008 global financial crisis caused severe disruptions, halting international capital flows and constraining financing. Property prices declined sharply, with primary housing falling 8.4% year-on-year and secondary housing 20%, while rental growth contracted to 5.5% in 2008 and turned negative in 2009.
From 2010 to 2014, the sector recovered amid rising oil prices, growing investor confidence, and higher household incomes. By 2012, prices peaked, with primary housing up 12% year-on-year, secondary housing 16.8%, and rents 14.4%. However, the 2014 drop in global oil prices triggered economic challenges, including significant currency depreciation and inflation, which slowed real estate growth between 2015 and 2017. While primary housing prices rose 15.8% year-on-year in 2015, they declined by 3.6% in 2016, mirroring trends in secondary and rental markets.
Government-led mortgage initiatives launched in 2017, including "Nurly Zher" (2017), "7-20-25" (2018), and "Baspana Hit" (2018), revitalized the market. By 2019, these programs drove a 6.4% year-on-year rise in housing prices despite modest growth in the population's incomes. The COVID-19 pandemic in 2020 temporarily suppressed transactions, but reduced construction output on the supply side led to price increases, with primary housing up 5% year-on-year and secondary housing 13.2%.
In 2021, the newly introduced ability to withdraw pension funds for housing purchases spurred demand, driving primary housing prices up 17% year-on-year and secondary housing up 24%. Early 2022 saw a surge in transactions as citizens sought to withdraw pension funds ahead of regulatory changes; however, geopolitical tensions stemming from the conflict in Ukraine, coupled with sanctions, disrupted the market, leading to stagnation. By 2023, market activity slowed further due to restrictions on the "7-20-25" program, with primary housing price growth decelerating to 3.4% year-on-year. Rental prices, which spiked 45% year-on-year in 2022, fueled by migration inflows from Russia, stabilized to a modest 1.6% increase by year-end 2023.
Data Source: BNS.
Demand Highlights:
Residential Sales Trend Towards Stabilization Amid Market Adjustments
Residential sales in Kazakhstan demonstrated varied dynamics in recent years. A significant rise in transaction volumes began in 2017-2018 and extended into 2019. However, market activity slowed during the start of the COVID pandemic in 2020. By 2021, the market experienced an unprecedented surge fueled by pent-up demand from the previous year and the partial use of pension savings for housing purchases. The high demand persisted into 2022, bolstered by an influx of Russian citizens, before cooling in 2023 following two years of record activity.
From January to December 2024, the number of residential sales transactions in Kazakhstan increased by 16.8% compared to the same period in 2023, according to the data from the BNS. This growth was driven by several factors, including the introduction of two new mortgage programs ("Otau" and "Nauryz"), the purchase of housing for flood victims, and the anticipation of a potential ban on using pension funds for real estate purchases. This led many citizens to withdraw their savings from the Unified Accumulative Pension Fund (UAPF) to invest in housing. "In 2024, the real estate market in Kazakhstan has essentially returned to a stable and positive growth trajectory," noted the monitoring agency Energyprom.kz.
Data Source: BNS.
Regionally, the West Kazakhstan region led the country with a year-on-year increase of 42.80% in sales transactions, while the East Kazakhstan region saw a marginal decline of 0.60%. Kazakhstan's three largest cities - Almaty, Astana, and Shymkent - recorded strong growth of 26.50%, 22.70%, and 27.40%, respectively, underscoring the continued resilience and demand in major urban areas.
Number of residential sales transactions by region:
Region | No. of Transactions | YoY (%) | Region | No. of Transactions | YoY (%) | |
Abay | 10,349 | 13.80% | Pavlodar | 13,059 | 24.50% | |
Akmola (excl. Astana) | 16,293 | 8.80% | East Kazakhstan | 13,171 | -0.60% | |
Aktobe | 18,800 | 22.00% | North Kazakhstan | 9,144 | 16.10% | |
Almaty (excl. Almaty city) | 23,107 | 20.10% | Turkistan (excl. Shymkent) | 13,875 | 0.10% | |
Atyrau | 13,588 | 18.00% | Ulytau | 4,660 | 14.50% | |
West Kazakhstan | 16,210 | 42.80% | Zhambyl | 12,484 | 4.10% | |
Karaganda | 33,710 | 1.60% | Zhetisu | 9,496 | 6.60% | |
Kostanay | 15,402 | 8.30% | Almaty city | 83,700 | 26.50% | |
Kyzylorda | 7,965 | 6.40% | Astana city | 76,940 | 22.70% | |
Mangystau | 21,605 | 10.50% | Shymkent city | 19,424 | 27.40% | |
Data Source: BNS. |
Experts forecast that housing demand in Kazakhstan will stabilize in 2025 at the average levels recorded between 2022 and 2024. This stabilization is primarily attributed to the limited availability of preferential mortgage programs. A slight uptick in transactions may occur, fueled by Islamic financing (mortgages based on Sharia principles, where interest cannot be applied to the principal) and anticipation of the introduction of VAT on primary housing in 2026. "We might see a 5-10% growth in transactions due to Islamic mortgages and the anticipation of VAT on new housing in 2026. The highest activity is likely to come from residents of Almaty and Astana," stated Imran Osmanov, Head of Sales at Krisha.kz, Kazakhstan's largest real estate portal.
Osmanov also noted potential challenges, including fluctuations in the USD exchange rate and increases in the base interest rate, which could temporarily stagnate or slightly reduce transaction volumes. However, localized market activity could remain buoyant, driven by dollar holders aiming to secure profits and buyers rushing to finalize purchases ahead of expected price increases.
Supply Highlights:
New Development on the Rise, Concentrated in Largest Cities
After a notable contraction in 2022, residential construction activity in Kazakhstan has returned to a growth trajectory. According to the BNS reporting, the total number of dwellings in residential buildings commissioned in 2023 was 20.5% above the previous year. In the eleven months of 2024, 145,929 new units entered the market, which exceeded the comparable 2023 period by 8.6%.
Nearly 45% of the new dwellings commissioned in the period from January to November were concentrated in Kazakhstan's two largest cities: Astana (28.7%) and Almaty (16.1%). Among other regional centers, Shymkent stood out with nearly 10,000 new units (6.8%). The share of individual houses in new deliveries has been trending downward long-term, decreasing from 40.5% in 2014 to 24.1% in the reported period of 2024.
According to the preliminary full-year figures announced by the Ministry of Industry and Construction, the total area of housing commissioned in 2024 exceeded the government's previously set goal and reached 18.96 million square meters (172,089 dwellings) - a record high in the country's contemporary history.
Data Source: BNS.
It should be noted that additional development activity in Kazakhstan last year was driven by a significant government and private effort in rebuilding and restoration of housing in flood-affected regions across the country. According to the information from the Prime Minister's press office, cited by The Astana Times, as a result of "the worst disaster in 80 years" in the spring of 2024, some 19.3 thousand real estate objects (houses and summer homes) were damaged, of which nearly 8.6 thousand were recognized as beyond restoration and had to be replaced by new construction.
As of 2023, Kazakhstan's housing stock stood at nearly 5.9 million dwellings and a total area of over 419 million square meters. Since 2018, the residential inventory has been expanding steadily, annually growing by 2.3% on average. Apartments in multifamily buildings currently represent about 62% of the total stock, with individual houses making up the remaining 38%. The country's most populous city, Almaty, accumulates 12.9% of all residential units.
In 2025, Kazakhstan plans to build 19 million square meters of housing (175 thousand dwellings). By 2029, a total of 111 million square meters of housing is expected to enter the market. "The government will take further steps to develop housing construction and improve housing accessibility. By 2029, it is planned to provide rental housing to 10,000 families annually," President Tokayev was recently quoted saying by The Astana Times.
Data Source: BNS.
Rental Market:
Market Stabilizing, Moderate Growth in Rents Projected in 2025
After generally slowing down over the course of 2023 when the market was readjusting to the influx of foreigners from the neighboring Russia brought on by the start of the conflict in Ukraine, the rental inflation in Kazakhstan re-accelerated in 2024.
In December 2024, the nationwide rent index published by the BNS showed a 7.9% annual increase, up from 5.2% in July and 4.3% in January. This dynamic appears to be primarily driven by the capital city of Astana, where the growth reached 25.8% in December, up from 18.4% in July and 4.4% in January. At the same time, in the country's largest city of Almaty, the growth in rents has been moderating after an unprecedented spike in 2021-2022, showing a 0.3% year-on-year decline in December 2024 after a 3.2% decline in July and below the national level growth at 3.2% in January.
Data Source: BNS.
In nominal terms, according to the BNS reporting, the average rent per square meter reached KZT 4,565 (USD 8.78) nationwide in December 2024. Among major cities, the highest average rent per sqm was reported in Almaty at KZT 5,344 (USD 10.28) and the lowest in Aktobe at KZT 2,481 (USD 4.77). In smaller regional centers, the indicator stood between KZT 2,000-4,000 (USD 3.85-7.70).
Average rent per square meter in the five largest cities:
December 2024, KZT per sqm |
December 2024, USD per sqm |
YoY, December 2024 vs December 2023 |
|
Almaty | 5,344 | 10.28 | -3.7% |
Astana | 4,959 | 9.54 | +3.0% |
Shymkent | 3,767 | 7.25 | +30.8% |
Aktobe | 2,481 | 4.77 | +2.7% |
Karaganda | 4,234 | 8.15 | +11.7% |
Kazakhstan | 4,565 | 8.78 | -6.3% |
Note: Exchange rate as of December 2024, USD 1 = KZT 519.65. | |||
Data Source: BNS. |
In November 2024, the property platform Krisha.kz reported the following median advertised apartment rents in the largest Kazakhstani cities:
- 1-room apartments: KZT 210,000 (USD 424) in Almaty, KZT 180,000 (USD 364) in Astana, KZT 150,000 (USD 303) in Shymkent, and KZT 130,000 (USD 263) in Aktobe and Karaganda;
- 2-room apartments: KZT 320,000 (USD 647) in Almaty, KZT 250,000 (USD 505) in Astana, KZT 180,000 (USD 364) in Shymkent, KZT 170,000 (USD 343) in Karaganda, and KZT 160,000 (USD 323) in Aktobe;
- 3-room apartments: KZT 420,000 (USD 849) in Almaty, KZT 400,000 (USD 808) in Astana, KZT 210,000 (USD 424) in Shymkent, and KZT 200,000 (USD 404) in Aktobe and Karaganda.
Overall, according to the recent analysis from the Association of Financiers of Kazakhstan, the rental market is now moving towards balance, with the growth in nominal wages outpacing rental inflation and bringing the rental payments to salary ratio down. This sentiment was echoed by Krisha.kz in their summary article at the end of 2024, pointing out that the market has been stabilizing, as no new factors had strongly impacted the demand since the floods earlier in the year.
Looking ahead, given moderate economic growth, gradual decline in inflation, and the absence of large-scale mortgage programs that could significantly change market dynamics, the residential real estate report from Halyk Research sees rents in Kazakhstan growing by 5.2% in 2025 and 4.8% in 2026.
Mortgage Market:
Rebound in Lending Volumes and New Government-Backed Programs
In December 2024, the National Bank of the Republic of Kazakhstan (NBRK) raised its base rate for the first time in two years, bringing it from 14.25% to 15.25% with a corridor of +/-1 pps. Commenting on the decision, the central bank pointed out that inflation had accelerated, reaching 8.5% in October, significantly above the 5% target. "Aggregate monetary conditions have eased amid weakening exchange rate, lower interest rates in real terms due to elevated inflation as well as its expanded forecasts for the coming years. Combined with increased volatility in financial markets, this necessitated an increase in the base rate," said the NBRK in a press release on the matter.
The potential impact of this monetary policy shift on residential lending conditions remains to be seen. Several major banks surveyed by the property platform Krisha.kz at the time reported no changes but indicated interest rates might go up in 2025.
It should be noted, however, that the maximum effective annual rate for mortgage loans in Kazakhstan's commercial banks has been limited to 25% since August 2024 after a corresponding joint decree of the NBRK and the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market came into effect. According to the analysis of individual mortgage products conducted by Krisha.kz, taking into account various commissions, insurance, and other fees, the effective annual rate offered by banks had already reached this level when the regulation was enacted.
Data Source: NBRK.
The nominal interest rates on new long-term mortgage loans, as reported by the NBRK, despite trending downward in the second half of 2024, remain elevated when compared to pre-2022 averages. In November 2022, the average interest rate on new loans of all term lengths stood at 10.4%, down from 11.1% in November 2023 but above 9.2% and 8.6% reported during the same time in 2022 and 2021, respectively.
Interest rates on new mortgages in the banking sector:
November 2024 | YoY | November 2023 | YoY | November 2022 | |
New mortgages: all terms | 10.4% | ↓ | 11.1% | ↑ | 9.2% |
New mortgages: short-term | 11.3% | ↑ | 9.0% | ↓ | 16.7% |
New mortgages: long-term | 10.4% | ↓ | 11.1% | ↑ | 9.2% |
After a two-digit drop in volume observed during the previous year, new residential lending has rebounded in 2024, according to the data on new mortgages reported by the NBRK. In the eleven months of the year, the Kazakhstani banks issued KZT 1.79 trillion (USD 3.61 billion) in new mortgages, which is 23.3% above the comparable period in 2023 and on par with the comparable 2022 period.
The Association of Financiers of Kazakhstan, in their review of recent developments, noted that the pick up in new lending can be mostly attributed to the growth in the banks' commercial programs facilitated by partnerships with developers and further digitization of the application process. At the same time, the disbursement in subsidized programs remained virtually unchanged due to higher interest rates and limited budgets, despite the launch of two new state-backed programs: "Nauryz" and "Otau" - offering 7-9% loans with 20% downpayment to qualifying citizens.
Data Source: NBRK.
"It is very important for the future volumes of state support not to have a decisive influence on the situation in the market to avoid overheating, such as what was observed in 2020-2022. This can be achieved by narrowing the focus of targeted assistance only to low-income groups of the population, which will allow certain categories of citizens to extract economic benefits from this support and will not affect the availability of housing for the entire market," highlights the Association of Financiers of Kazakhstan.
In general, in the last five years, the mortgage market in Kazakhstan more than tripled; its relative size, however, remains limited. Compared to the national economy, it amounted to an estimated 4.4% of the GDP in current prices in 2023. As of November 2024, the total value of outstanding mortgage loans in the banking sector reported by the NBRK reached KZT 5.97 trillion (USD 12.1 billion), a 12.6% increase since the end of the previous year. In addition, KZT 280.6 billion (USD 566.9 million) of housing loans was maintained by non-bank mortgage institutions.
Data Sources: NBRK, BNS.
Socio-Economic Context:
Slower Growth in 2024, Inflation Still Above Target
After reaching 5.1% in 2023, Kazakhstan's economic growth is expected to slow slightly in 2024, mostly due to delays in expanding the Tengiz oil field. The preliminary figures for the 11 months of the year published by the Office of the Prime Minister show a 4.4% real GDP growth, predominantly driven by non-oil sectors, such as manufacturing, trade, agriculture, and construction. The latest projections from the International Monetary Fund (IMF) estimated the growth at 3.9% for the year, with re-acceleration to 4.8% in 2025 to be supported by strong budget spending and higher oil production.
Consumer Price Index (CPI) inflation in the country eased significantly from 15% in 2022 and 14.6% in 2023 to a projected 8.3% level in 2024 due to improving global conditions and prudent monetary policy by the NBRK. It remains, however, well above the authorities' 5% target and has marginally accelerated in recent months from 8.3% in September to 8.6% in December 2024, according to the BNS reporting. In the upcoming periods, the IMF expects inflation to slow but still stay above the target at 6.9% in 2025. The macroeconomic survey conducted by the NBRK in January 2025 showed even higher inflationary expectations in the expert community, estimating the CPI to increase by 7.5% by the end of the current year.
Data Source: IMF.
In their latest macroeconomic assessment and forecast, Halyk Research noted that national currency exchange rate volatility and overall depreciation of the tenge (KZT) may exert additional inflationary pressure in the upcoming periods. Throughout 2024, Kazakhstan's national currency noticeably weakened, the average exchange rate reaching KZT 519.65 per USD 1 and KZT 544.43 per EUR 1. The expert community surveyed by the NBRK in January 2025 raised their projections for further national currency depreciation compared to the fall 2024 assessment, currently forecasting the USD/KZT exchange rate to average 514.5 in 2025, 530 in 2026, and 550 in 2027.
The labor market in the country remains tight, with the unemployment rate decreasing from 4.9% in 2022 to 4.7% in 2023 and further to 4.6% as of Q3 2024, according to the BNS reporting. The nominal wage growth reached 11.3% year-on-year in Q3 2024, while real wage growth amounted to only 2.7% nationwide.
Data Source: NBRK.
The overall outlook for Kazakhstan's economy in the year ahead presents a mix of positive factors and internal and external uncertainties. In November 2024, Fitch Ratings affirmed Kazakhstan's 'BBB' standing with a stable outlook, noting that despite the projected growth pick-up in 2025, it is still expected below the target. The country's continued high dependence on oil, which accounts for more than half of its exports, presents additional risks, and while the development of the middle-corridor transportation sector and renewable energy provides some economic diversification, it is insufficient to markedly lift the share of non-oil GDP, according to Fitch.
At the same time, Moody's Ratings upgraded Kazakhstan's position from 'Baa2' to 'Baa1' as of September 2024, based on their assessment that "ongoing enhancements to the institutional and policy framework, combined with sustained momentum in economic diversification away from hydrocarbons have and will continue to enhance Kazakhstan's resilience to shocks."
"Kazakhstan faces a pivotal year as it navigates a mix of economic challenges and opportunities that could significantly shape its trajectory. Risks such as resource depletion, decaying infrastructure, and inflation threaten to hinder growth, while manufacturing, agriculture, and sustainable energy sectors offer avenues for progress," wrote the Astana Times in January 2025.
Sources:
- Bureau of National Statistics (BNS)
- Statistics of National Accounts: https://stat.gov.kz/
- Statistics of Prices: https://stat.gov.kz/
- Change in House Prices and Sales Transactions, December 2024. Press release (RU): https://stat.gov.kz/
- Employment and Unemployment: https://stat.gov.kz/
- Wages and Working Conditions: https://stat.gov.kz/
- Construction Statistics: https://stat.gov.kz/
- National Bank of Republic of Kazakhstan (NBRK)
- Base Rate 2015-2025: https://nationalbank.kz/
- Press-release: Base Rate Increased to 15.25%: https://nationalbank.kz/
- Loans from Banking Sector to Economy (Analytical Presentation): https://www.nationalbank.kz/
- Loans to Economy in an Expanded Format: https://nationalbank.kz/
- Official Foreign Exchange Rates on Average for the Period: https://nationalbank.kz/
- Kazakhstan Macro & Market Overview: https://nationalbank.kz/
- Macroeconomic Survey of the National Bank: https://nationalbank.kz/
- Official Information Source of the Prime Minister of the Republic of Kazakhstan
- Results of the Year: Growth of the Economy of Kazakhstan… (RU): https://primeminister.kz/
- Ministry of Industry and Construction of the Republic of Kazakhstan
- In 2025, 19 Million Square Meters of Housing Will be Built in the Country (RU): https://www.gov.kz/
- Agency for Regulation and Development of the Financial Market
- Joint Decree of the Board of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (August 16, 2024 No. 62) and the Board of the National Bank of the Republic of Kazakhstan (August 19, 2024 No. 45) "On determining the maximum amounts of the annual effective interest rate" (RU): https://www.gov.kz/
- International Monetary Fund (IMF)
- Country Overview: Kazakhstan: https://www.imf.org/
- Kazakhstan: Staff Concluding Statement for the 2024 Article IV Mission: https://www.imf.org/
- Fitch Ratings
- Fitch Affirms Kazakhstan at 'BBB'; Outlook Stable: https://www.fitchratings.com/
- Moody's Ratings
- Moody's Ratings Upgrades Kazakhstan's Ratings to Baa1, Outlook Changed to Stable: https://ratings.moodys.com/
- Association of Financiers of Kazakhstan
- The Revival of Commercial Mortgages is not Accompanied by an Increase in Real Estate Prices (RU): https://afk.kz/
- Halyk Research
- Macroeconomic Report and Forecast H1 2024 (RU): https://halykfinance.kz/
- Residential Real Estate: Reasons for Ups, Downs, and Price Forecasts (RU): https://halykfinance.kz/
- Krisha.kz
- How the Housing Market Will React to the Increase in the Base Rate and the Exchange Rate (RU): https://krisha.kz/
- Maximum Mortgage Rate Approved in Kazakhstan (RU): https://krisha.kz/
- Mortgage Programs "Nauryz" and "Otau", How they Differ (RU): https://krisha.kz/
- Apartment Rents Continue to Fall in Kazakhstan (RU): https://krisha.kz/
- Real Estate Market - 2024. Results of the Year (RU): https://krisha.kz/
- What Awaits the Housing Market in 2025: Expert Opinions (RU): https://krisha.kz/
- Kn.kz
- What to Expect from Property Prices in 2025? (RU): https://www.kn.kz/
- The Astana Times
- Kazakhstan's Economic Outlook for 2025: Risks and Opportunities: https://astanatimes.com/
- Kazakh PM Urges to Accelerate Restoration Work in Flood-Affected Regions: https://astanatimes.com/
- BBC
- Floods in Kazakhstan Inundate Thousands of Homes, Cut Off Dozens of Communities (RU): https://www.bbc.com/
- Kapital.kz
- Otbasy Bank Plans to Launch Islamic Mortgages in 2025 (RU): https://kapital.kz/