Capital Cool-down: Astana’s Housing Market Hits 2-Year Low

The real estate landscape in Kazakhstan's capital has taken a dramatic turn. In March 2026, Astana recorded only 4,900 residential property transactions—the lowest level of activity since July 2024. This represents a 6% drop from February and a significant 13% decline compared to March of last year.

While the market saw a record-breaking peak of 11.7 thousand deals in December 2025, the start of 2026 has brought a cold front, marking the third consecutive month of decline for the capital.

Vanishing Demand for Studios: The once-dominant 1-bedroom apartments have seen their market share slip to 35%. This waning interest is finally forcing prices in the secondary market to edge downward. The "Pension Fund" Hangover: Experts believe the massive boom of 2025 was fueled by the withdrawal of pension savings. Now that this trend has exhausted itself, the market is facing a reality check.

While Astana’s market is freezing, Almaty is on fire. Nationwide, Kazakhstan saw 28.5 thousand deals in March (a 3% overall increase), but this growth was almost entirely driven by the "Southern Capital."

Almaty saw 6.4 thousand apartments sold in a single month—a staggering 27% jump from last year. As of now, Kazakhstan's two largest cities are moving in completely opposite directions.