BAKU, Azerbaijan, January 9. Kazakhstan recorded a 1.5 percent drop in real estate prices on the secondary housing market in December 2022, compared to the prior month, Trend reports, citing the press service of the Bureau of National Statistics of the Agency for Strategic Planning and Reforms of Kazakhstan.
This is the first price decrease since March 2018.
Astana registered the sharpest drop of 5.1 percent. Shymkent and Aktau trail behind with a 2.7 percent and 1.6 percent drop respectively.
As a result of these changes, the average price of rent dropped as well, by 1.6 percent.
Despite the monthly drop, real estate prices on the secondary market have increased considerably in 11M2022. In year-on-year terms, the secondary market prices increased by 21.6 percent, while the primary market housing prices increased by 15.6 percent in 2022.
