The impact of the COVID-19 pandemic on the real estate sector of Kazakhstan

Abstract

The COVID-19 pandemic and measures to combat it have left their mark on all sectors of economic activity. Undoubtedly, those types of activities that were stopped by quarantine and had a special dependence on foreign labor had been negatively affected. These industries include, first, the construction industry. To assess the degree of negative impact and loss of this industry is an urgent task today, the solution of which is the purpose of this article. In turn, the research focuses on the socio-economic relations between all subjects of the real estate market, which are developing in the process of implementing restrictive measures related to the introduction of the coronavirus pandemic. The authors consider the main theoretical aspects of the real estate market, analyze changes in the housing market. The article considers the level of housing construction and the dynamics of its key indicators demonstrates the volume of housing construction introduced in recent years. The level of real estate construction and the dynamics of their prices, the number of housing purchase and sale transactions are also assessed, the factors of influence on the real estate market are determined: the population growth rate, the average monthly nominal wage of employees, investment in housing construction.