Mortgages in 2026: The Key Numbers
Money remains expensive: the National Bank cut the base rate to 16.25%, but annual inflation was 9.8% in August and the next rate decision is scheduled for October 23, 2026. Market mortgages are therefore costly: before the cap, banks offered resale-housing loans at 20–22% nominal with effective rates of 23–25% (Krisha.kz review).
From July 1, 2026 the maximum annual effective rate on new mortgage loans was cut from 25% to 20% — loans issued earlier are not affected. Against this background buyers turn to state programs: according to the Association of Financiers of Kazakhstan, subsidized programs accounted for 85.1% of new lending in Q1 2026 (73.9% a year earlier), while market mortgage volume fell by 53.6%.
The Main Programs in 2026
| Program | Rate | Down payment | Limit for Astana | Key conditions |
|---|---|---|---|---|
| "7-20-25" (commercial banks) | 7% | from 20% | up to KZT 30m | Only new completed housing from developers; no housing for 18 months; up to 25 years; quarterly tranches of KZT 25bn |
| Nauryz (Otbasy Bank) | 7% for vulnerable groups, 9% for others | 10% with finishing, 20% without | up to KZT 36m | Deposit from KZT 2m; no housing for 5 years; up to 19 years; application windows (March 10–31 in 2026) |
| Otau (Otbasy Bank) | 7% or 9% | from 20% | up to KZT 36m | For people on the housing waiting list; deposit from KZT 1m; up to 19 years |
| Umai (Otbasy Bank) | 14.8% on the bridge loan, down to 5% after saving 50% | from 20% | up to KZT 50m | Women aged 18–65 with a deposit; completed new builds, guaranteed projects under construction or resale built in 2016 or later; applications from August 31, 2026 |
| Nauryz Askeri (Otbasy Bank) | 9%, reducible to 5% | 0–50% | up to KZT 80m | Military and security-service personnel with housing allowances |
| Bank market mortgage | no more than 20% effective rate for new loans | usually from 20% | based on income | New and resale housing, quick decision, strict income checks |
Terms from Krisha.kz, Otbasy Bank, Forbes Kazakhstan and Ulysmedia; limits and application windows change — check the operator's website on the day you apply.
A detailed breakdown of each state program, borrower requirements and how to choose: "Subsidized Mortgages 2026: All Programs".
How Much You Pay: Worked Examples
Annuity payments below exclude insurance and fees. Over a long term, the gap between a subsidized and a market rate runs into tens of millions of tenge.
| Loan and term | 7% rate | 9% rate | 20% rate |
|---|---|---|---|
| KZT 15m over 15 years | KZT 134,824/mo | KZT 152,140/mo | KZT 263,444/mo |
| KZT 20m over 20 years | KZT 155,060/mo | KZT 179,945/mo | KZT 339,765/mo |
| KZT 30m over 25 years | KZT 212,034/mo | KZT 251,759/mo | KZT 503,536/mo |
Our calculation. Total interest on KZT 20m over 20 years: about KZT 17.2m at 7%, KZT 23.2m at 9% and KZT 61.5m at 20%.
To compare with renting, see "Renting or a Mortgage in Astana" and the ROI calculator.
Mortgages for Investors: When a Loan Makes Sense
Statistics give a yield benchmark: in August 2026 average rent in Astana was KZT 6,079 per m² per month, and the average resale price was KZT 740,356 per m² (Bureau of National Statistics). That is about 10% a year in gross yield at the seasonal rent peak (about 9% on June data); after vacancies, repairs, taxes and management costs the net yield is noticeably lower.
- The market rate exceeds the yield. With effective rates of up to 20%, rent does not cover the payment — such leverage worsens an investor's result.
- Subsidized programs are for your own home. "7-20-25" and Nauryz require the borrower to have no housing, so they do not fit buying a second apartment to rent out.
- Developer installment plans are a separate tool: terms are individual and tied to construction risk. Check how buyers are protected — a guarantee from the single operator, a commercial bank's participation or sales after the frame is built (Law "On Shared Participation in Housing Construction").
The buy-to-resell scenario is covered in our article on flipping, and tax on an early sale in "Tax on Selling an Apartment".
How to Get a Mortgage: Step by Step
- Check your eligibility: housing owned in the last 18 months or 5 years, the deposit and savings period at Otbasy Bank, waiting-list status for Otau.
- Get pre-approval — from a bank or Otbasy Bank. For Nauryz watch the application windows, for "7-20-25" the quarterly tranches.
- Choose a property that fits the terms: "7-20-25" — completed new builds only, Nauryz in Astana — primary housing, Umai allows resale built in 2016 or later.
- Check the developer and the property — the permit to raise buyers' funds, encumbrances via egov.kz; checklist in our legal due diligence guide.
- Sign the contract and register the title and the mortgage — the apartment stays pledged to the bank until the loan is repaid.
Common Borrower Mistakes
- Comparing nominal rates. The real cost of credit is the effective rate, which includes fees and insurance.
- Missing the application window. Nauryz limits and "7-20-25" tranches are capped and run out quickly.
- Borrowing in foreign currency with income in tenge. Exchange-rate risk can make the payment unaffordable.
- Not checking the developer. Verify developers in public registries and our Astana developers review.
Frequently Asked Questions
What is the mortgage rate in Astana in 2026?
Subsidized programs charge 7–9% ("7-20-25", Nauryz, Otau). For market mortgages, the annual effective rate on new loans cannot exceed 20% from July 1, 2026. The weighted average rate on new mortgage loans in Q1 2026 was 10% thanks to subsidized programs.
Can I buy resale housing under "7-20-25"?
No. Under the 2026 terms "7-20-25" covers only new completed housing from developers; resale and buildings under construction do not qualify.
What changed in mortgages on July 1, 2026?
The maximum annual effective interest rate on new mortgage loans was cut from 25% to 20%. Loans issued earlier are not affected.
How much down payment do I need?
Usually from 20%. Under Nauryz the down payment is 10% for apartments with finishing, and under Nauryz Askeri from 0% to 50%.
Can a foreigner get a mortgage in Astana?
Subsidized state programs are designed for citizens of Kazakhstan, and market mortgages require confirmed income. In addition, a foreigner can register housing to an individual only with a residence permit.
Sources
- National Bank of Kazakhstan, 04.09.2026: base rate 16.25% (in Russian) — nationalbank.kz
- Krisha.kz: 20% mortgage rate cap from July 1, 2026 (in Russian) — krisha.kz
- Tengrinews, 15.06.2026: mortgage market in Q1 2026, AFK data (in Russian) — tengrinews.kz
- Krisha.kz: resale mortgage terms of banks in 2026 (in Russian) — krisha.kz
- Krisha.kz, 26.12.2025: "7-20-25" in 2026 (in Russian) — krisha.kz
- Krisha.kz: Nauryz mortgage terms in 2026 (in Russian) — krisha.kz
- Otbasy Bank: Otau program (in Russian) — hcsbk.kz
- Forbes Kazakhstan, 27.08.2026: Umai program launch (in Russian) — forbes.kz
- Ulysmedia, 03.02.2026: subsidized mortgages 2026 (in Russian) — ulysmedia.kz