How to Compare Properly
"Loan payment versus rent" is only the start. An honest calculation also considers three things:
- The down payment is money that could earn income elsewhere, for example on a deposit.
- Owner costs — property tax, repairs, building maintenance contributions; tenants do not pay these.
- The apartment's price change. In January–May 2026 resale housing in Astana was 10.8% more expensive than a year earlier, but across Kazakhstan in July resale fell 0.7% in real (inflation-adjusted) terms.
The right question: which option leaves you with more capital in 5–10 years at a comparable quality of life?
Worked Example: a 40 m² Apartment at the Average Price
Take a 40 m² apartment at the average Astana resale price of KZT 727,363 per m² (BNS, June 2026): about KZT 29.1m. Renting it at the average rate of KZT 5,646 per m² per month costs about KZT 225.8k. Down payment 20% (KZT 5.8m), loan KZT 23.3m.
| Scenario | Monthly payment | Total interest |
|---|---|---|
| Renting | ≈KZT 225,840 | — |
| "7-20-25": 7%, 25 years* | ≈KZT 164,507 | ≈KZT 26.1m |
| Nauryz: 9%, 19 years (primary housing only in Astana) | ≈KZT 213,413 | ≈KZT 25.4m |
| Market mortgage: 20%, 15 years | ≈KZT 408,789 | ≈KZT 50.3m |
Our calculation: annuity without insurance or fees. *"7-20-25" covers only new completed housing from developers; the average new-build price in Astana in June 2026 was KZT 739,033 per m², so the amount for a similar apartment would be close.
The difference is fundamental: under "7-20-25" the payment is almost KZT 60k below average rent, under Nauryz it is comparable to rent, and at a market rate near the 20% cap it is KZT 180k a month above rent. Program terms: "Subsidized Mortgages 2026"; median rents by apartment type: "Moving to Astana".
When Renting Wins
- A short horizon. If you plan to live in the apartment for only a few years, deal costs, renovation and possible tax on an early sale eat the benefit.
- Only a market rate is available. At an effective rate near 20% the payment is almost double the rent, while housing prices are currently not rising in real terms.
- You are still choosing a district. Renting is flexibility: you can change district or city within a month.
- Unstable income. Falling behind on rent means moving; falling behind on a mortgage risks losing the home and the down payment.
When Buying Wins
- You have access to a subsidized program. "7-20-25" (7%) or Nauryz (7–9%) give a payment at or below rent, and the money goes into your own asset.
- A long horizon. The longer you live in the apartment, the less the costs of entering and exiting the deal matter.
- A home for yourself. Ownership protects against rising rents: across Kazakhstan rents rose 17% year on year (August 2026).
- A financial cushion remains. After the down payment, keep a reserve of at least several months of payments.
A Decision Rule: Three Questions
- Which rate is really available to me? Subsidized — buying usually wins over a horizon of several years. A market rate near 20% — buying is justified by personal rather than financial reasons.
- How many years will I live in this apartment? Short — rent; long — run the numbers for buying.
- What happens to the down-payment money if I do not buy? If it earns more than the loan rate, the math favors renting; if it sits idle, buying.
Plug your numbers into the ROI calculator, and see rates and payments in detail in "Mortgages in Astana 2026".
Frequently Asked Questions
Which is cheaper in Astana: renting or paying a mortgage?
It depends on the rate. For a 40 m² apartment at BNS average prices, rent is about KZT 226,000 a month. The payment under "7-20-25" (7%, 25 years) is about KZT 165,000, under Nauryz (9%, 19 years) about KZT 213,000, and on a 20% market mortgage over 15 years about KZT 409,000.
Does a market mortgage make sense in 2026?
Usually not: since July 1, 2026 the effective rate on new loans is capped at 20%, but even at that rate the payment is almost double the average rent. A market loan is justified mainly by personal reasons and a long horizon.
Can I buy an apartment under "7-20-25" and rent it out?
The program is designed for borrowers without their own housing and covers only new completed homes. Using it as a buy-to-let investment tool contradicts its purpose.
Are rents rising in Astana?
Yes. According to Krisha.kz, on August 1–18, 2026 the median one-room rent rose from KZT 220,000 to 240,000. According to the BNS, in August 2026 the average rent in Astana rose 4.9% month on month and 17% year on year across Kazakhstan.
Sources
- Inform.kz, 09.07.2026: housing and rent prices per BNS (in Russian) — inform.kz
- Tengrinews, 09.06.2026: housing prices per BNS (May) (in Russian) — tengrinews.kz
- Kursiv, 26.08.2026: resale cheaper in real terms (in Russian) — kz.kursiv.media
- Krisha.kz: what is happening with rents (in Russian) — krisha.kz
- Krisha.kz, 26.12.2025: "7-20-25" in 2026 (in Russian) — krisha.kz
- Krisha.kz: Nauryz mortgage terms (in Russian) — krisha.kz
- Krisha.kz: mortgage rate cap from July 1, 2026 (in Russian) — krisha.kz