Almaty or Astana: which city is better for buying an apartment in 2026?

For living in and preserving capital, Almaty looks stronger in 2026: there's less free land, tenants can afford more and the luxury segment keeps rising. For rental income in percentage terms, Astana is more interesting: the entry price is lower and estimated rental yield is 2 points higher. The average price of new housing in the two cities has almost converged; the gap remains in the upper classes.

In short

September 2026, new builds, luxury class: Almaty 1.61 million ₸/m², Astana 1.05 million ₸/m² (Homsters)
Average price of new housing per the Bureau of National Statistics, September 2026: Almaty 739,762 ₸/m² (+16.5% year on year), Astana 745,887 ₸/m² (+10.1%)
Gross rental yield as estimated by an expert quoted by zakon.kz: Almaty 5–7%, Astana 7–9%
Housing completed in 2025: Almaty 2.6 million m², Astana 4.8 million m²
Almaty lies in a seismic hazard zone of 9–10 intensity points; since 29.10.2025 there has been a moratorium on apartment complexes in the foothills

Where are apartments cheaper in 2026: Astana or Almaty?

On average, almost the same. According to the Bureau of National Statistics, in September 2026 new housing in Almaty cost 739,762 ₸ per m² and in Astana 745,887 ₸. A few years ago Astana was 30–40% cheaper; now that gap is gone from the average figures.

The difference shows up when you look by class. According to Homsters for September 2026, new builds in Almaty cost: luxury 1.61 million ₸/m², business 1.02 million, comfort 582,000, economy 526,000. In Astana: luxury 1.05 million, business 709,000, comfort 511,000, economy 354,000.

So in economy class Astana is about a third cheaper, while in luxury Almaty is about one and a half times more expensive. In comfort class the two cities are close.

Where are property prices rising faster?

The answer depends on which period you look at. According to the Bureau of National Statistics, in the year to September 2026 new housing in Almaty rose 16.5% and in Astana 10.1%. Resale prices in Almaty grew 25.4% in 2025, the highest in the country.

Yet in early 2026, an expert quoted by zakon.kz noted the opposite: asking prices in Astana rose 7% in the first quarter, and 1% in Almaty. And in September Homsters recorded falling new-build prices in Astana across all classes, while Almaty luxury kept getting more expensive.

My conclusion: short swings tell you little. What matters more is that Almaty is physically short of good land, while Astana has plenty and builds almost twice as much: 4.8 million m² against 2.6 million m² in 2025.

Why supply in Almaty will stay limited

Since 1 March 2025, buildings in Almaty's seismically hazardous zones and foothills can be no higher than 3 storeys, and on 29 October 2025 the city council introduced a moratorium on apartment complexes and infill construction in the foothills. There will be almost no new projects with views in the upper part of the city, so existing buildings in those areas are becoming rare.

Where is rental yield higher?

In Astana. According to an expert quoted by zakon.kz (April 2026), gross yield there is 7–9% with a payback of 10–12 years, against 5–7% and 13–15 years in Almaty. Rents are higher in Almaty: a one-bedroom in the centre averages 366,000 ₸ a month against 259,000 ₸ in Astana. But the apartment itself is cheaper in Astana, so the percentage comes out higher.

There's a nuance I take into account. In Almaty tenants can afford more on average and vacancies are shorter, especially in business class near office districts. A high percentage on paper is worth nothing if the apartment sits empty for two months.

I've covered the yield calculation with a worked example in a separate guide on renting out in Almaty.

Demand and liquidity: where is it easier to sell?

The market cooled in both cities in 2026. In Almaty, the number of deals in January–July 2026 fell by 6.8%, there are 7–8 resale properties for every buyer, and an urgent sale means a discount of 10–15%.

In Astana demand is supported by positive net migration, but supply is larger too. For an investor this means one thing: buy a liquid format. In both cities, one- and two-room apartments in good locations sell fastest, and large expensive units slowest.

Climate, air and earthquakes: Almaty vs Astana

Earthquakes

This is Almaty's main drawback. The whole city lies in a 9–10 point seismic intensity zone, while Astana is in a calm zone. In 2024 Almaty felt tremors of 5 points from an earthquake on the Kyrgyzstan–China border. Checking a building's structure is a must for anyone buying in Almaty; there's a separate guide on this.

Air quality

Neither city can boast clean air. According to Kazhydromet data for 2021–2025, Astana and Almaty are both in the group of cities with consistently high pollution. In Almaty the main problem is in winter: fine PM2.5 dust gets trapped in the bowl between the mountains. Higher up the slope the air is usually cleaner, which is one reason the upper districts cost more.

Climate and lifestyle

People choose Almaty for its milder winter, the mountains right outside the city and the greenery. They choose Astana for business life, new districts and a lower entry price. This is subjective, but these are the reasons I hear most often from buyers coming from other cities.

Which to choose: to live in or to invest?

To live in and preserve capital, I'd look at Almaty, especially for a family that cares about schools and a good neighbourhood. The land shortage and building restrictions support the price of existing buildings.

For rental income on a small budget, Astana genuinely looks better on the numbers. The expert quoted by zakon.kz reaches a similar conclusion: Almaty for living and stability, Astana for growth.

I work in Almaty and know this market from the inside, so I talk about Astana as an analyst, not as a real estate specialist on the ground. If you're unsure, I'll run both options on your numbers.

Almaty: higher entry price, lower rental yield, stronger capital protection, earthquakes as the main risk
Astana: lower entry price, higher rental yield, more supply and more competition between complexes
In both cities: the same taxes, and housing bought after 01.01.2026 is exempt from income tax on sale only after 2 years of ownership

This is general information. Legal and tax details depend on your status, so before any deal I confirm them with a notary and a lawyer.

I'll compare Almaty and Astana on your numbers

Tell me your budget and goal: live in it, rent it out or preserve your money. I'll run both options and show you where your money will work harder.

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Questions and answers

Are apartments cheaper in Almaty or Astana in 2026?

On average almost the same: according to the Bureau of National Statistics, in September 2026 new housing cost about 740,000 ₸ per m² in both cities. In economy class Astana is about a third cheaper, and in luxury Almaty is about one and a half times more expensive.

Is Almaty or Astana better for property investment?

For rental income in percentage terms, Astana: estimated gross yield is 7–9% against 5–7% in Almaty. For preserving capital, Almaty is stronger because of the land shortage and building restrictions. It depends on what matters more to you: income or the value of the asset.

Where are apartment prices in Kazakhstan rising fastest?

In the year to September 2026, new housing in Almaty rose 16.5% and in Astana 10.1% (Bureau of National Statistics). In some months the picture is reversed, so look at long periods rather than a single quarter.

Is it dangerous to buy an apartment in Almaty because of earthquakes?

Almaty is in a 9–10 point seismic zone, so checking the building is essential: year of construction, structure, design seismic rating. Monolithic concrete buildings from after the 2000s are usually more reliable than older brick stock. Earthquake insurance is inexpensive and worth having.

Are rents higher in Almaty or Astana?

Rents are higher in Almaty: a one-bedroom in the centre averages about 366,000 ₸ a month against 259,000 ₸ in Astana (zakon.kz). But apartments in Astana are cheaper, so the percentage yield there is higher.

Which city has cleaner air, Almaty or Astana?

According to Kazhydromet, both cities have been in the high air pollution group for years. In Almaty it's worst in winter, when PM2.5 gets trapped in the bowl between the mountains. Almaty's upper districts are usually cleaner than the lower ones.

Is it worth moving from Astana to Almaty and buying there?

If the climate, the mountains and price stability matter to you, it's a sensible move. Before buying, check the building's seismic resistance, the district's air and the traffic on your daily routes. I help choose a district and show apartments online while you're still in Astana.