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

Abstract

The relevance of the article is explained by the desire of households to rationally invest in residential real estate in order to preserve and increase savings in the face of the economic consequences of the COVID-19 pandemic, inflation, and a decrease in real incomes of the population. The object of the study is real estate as an investment for households, taking into account the current economic situation due to the difficult epidemiological situation. This article provides a comparative correlation-regression analysis of the impact of the coronavirus infection COVID-19 on the purchase and sale of housing between 2019 and 2021. The article is one of the first studies to assess the impact of the COVID-19 pandemic on the real estate market using this research method. The study was conducted by statistical methods, analysis methods, modeling, as well as by comparison. It was concluded that real estate investment is the most simple and understandable means of preservation and increase of the capital of ordinary households. The article will be of great importance to specialists of real estate companies, researchers, and practitioners engaged in real estate and investment issues. As a result of correlation-regression analysis, we saw a close relationship between the number of home purchase transactions and the number of people infected with COVID-19. The authors analyzed the density of this relationship for both annual and monthly indicators for the period 2019-2021. As a result, the authors observed instability in the housing market. The authors have proven that one of the main reasons for the sharp increase and decrease in the number of transactions is the rate of COVID-19.