The analysis included listings of residential complexes that have already been commissioned, alongside listings of new housing under construction.
AERC continues to monitor price dynamics in the new housing market using data from Krisha.kz.
According to the Bureau of National Statistics of Kazakhstan, the average price per square meter of new housing in September 2026 stood at KZT 626,252. New housing prices increased by 0.1% compared with August 2026 and by 10.9% compared with September 2025.
According to Krisha.kz listings, the average price per square meter of new housing under construction nationwide stood at KZT 599,519 in September 2026, decreasing by 1.7% (MoM). On a year-on-year basis, prices rose by 16.6%.
According to Krisha.kz listings, the average price per square meter of newly commissioned housing stood at KZT 545,100 in September 2026, increasing by 1.9% (MoM). On a year-on-year basis, prices increased by 16.9%.
According to AERC analysis, uneven price dynamics are likely to persist in the primary housing market across regions and housing segments in the coming months. Rising construction costs continue to exert upward pressure on prices, while three consecutive monthly declines in housing transactions and a decrease in mortgage lending in August point to weakening demand. New mortgage programs offered by developers and banks, along with government housing support mechanisms, may stimulate demand for selected projects. Their overall impact will depend on the availability of financing, the scale of the programs, and households’ purchasing power.
More details can be found in the attached file. AERC also reminds readers that aggregated Krisa.kz listings data continue to be published in Excel format.
