The introduction of a program to use pension savings to purchase housing contributed to the speculative increase in demand for housing among the population, which in turn drove to the growth in housing construction.
Versus the year 2020, in 2021, the total area of commissioned residential buildings increased by 11.4 % and amounted to 17,076 thousand square meters.
Commissioning of the total area of residential buildings
The volume of investment in housing construction increased: in comparison with the indicator of 2020, the indicator in 2021 increased by 23.8 % and amounted to 2,436.1 billion tenge.
Investments in housing construction
The dynamics of prices over the previous 10 years on average in Kazakhstan shows that the price for new housing has increased from 154 to 361 thousand tenge per a square meter, that is, more than 2.2 times.
An increase in average prices for new housing compared to December 2020 is observed in the cities of Petropavlovsk (84.6 %), Ust-Kamenogorsk (34.3 %), Taldykorgan (27.9 %), Kostanay (23.8 %), and Nur-Sultan (22 %). The price for 1 square meter of new housing in the cities of Nur-Sultan, Almaty, and Shymkent has exceeded the average republican level and amounted to 479.2 thousand tenge, 415.1 thousand tenge and 379.8 thousand tenge, respectively.
It should be noted that due to price fluctuations in the foreign exchange markets, the inflationary expectations and, as a result, an increase in prices for both primary and secondary housing will be observed in 2022.
According to data of the National Bank of the Republic of Kazakhstan, the volume of mortgage lending has grown 3.7 times over the previous 10 years. Activity in the field of mortgage lending is largely due to the State support for the housing and construction industry.
In January-December 2021, the loans to individuals for the housing purchase and construction amounted to 1,746.3 billion tenge, which is about 2 times higher than the level of the same period in 2020.
In the reporting period, there is a noticeable growth in the housing purchase and sale market. The number of housing purchase and sale transactions in January-December 2021 increased by 96.8 % compared to the corresponding period of the previous year and made up 606,056 transactions.