With a population of over 1,500,000, Almaty is the largest agglomeration in Kazakhstan, and one of the largest cities in Central Asia. Although the capital was moved to Astana in 1998, Almaty still remains the commercial center of the country and the most developed real estate market in the Central Asian region. Both investment volumes and demand are slowly increasing compared with the levels registered at the beginning of 2013, especially in the office and retail sectors. The property markets in the former capital of Kazakhstan show a positive trend which has resulted in an uplift in activity for both investors and occupiers during the last 12 months.