Where rental housing prices are rising most in Kazakhstan

In July, rental housing prices in Kazakhstan rose most sharply in Astana, increasing by 6.9% month-on-month, reports infohub.kz.

With a month left until the start of the new academic year, rental prices traditionally begin to rise in all major cities. According to the portal Krisha.kz, rents increased by an average of 3.1% month-on-month in July.

The largest price increase was in Astana, at 6.9%. In Almaty, the increase was 3.4%, and in Shymkent, 3.2%.

Notable increases in rental housing prices were recorded in Kostanay (6.5%), Taldykorgan (5.9%), and Konayev (6.5%).

In Turkestan and Taraz, average rates remained unchanged, and no major city saw a decline in prices over the month.

Rental housing is most expensive for residents of Almaty, at an average of 5,814 tenge per square meter. Next are Astana (5,476 tenge), Kostanay (4,000 tenge), Ust-Kamenogorsk (3,947 tenge), and Pavlodar (3,846 tenge). The lowest rates are in Turkestan (2,000 tenge), Taraz (2,250 tenge), and Kyzylorda (2,500 tenge).

Median rental rates for one-bedroom apartments by city: Astana — 220,000, Almaty — 210,000, Atyrau — 160,000, Aktau — 150,000, Karaganda — 150,000, Kostanay — 150,000, Ust-Kamenogorsk — 150,000, Kokshetau — 150,000, Konayev — 150,000, Aktobe — 140,000, Pavlodar — 140,000, Shymkent — 140,000, Semey — 140,000, Petropavlovsk — 130,000, Uralsk — 130,000, Taldykorgan — 120,000, Kyzylorda — 110,000, Turkestan — 100,000, Taraz — 80,000 tenge per month.

The most expensive housing is currently rented in Astana. Prices for one-bedroom and three-bedroom apartments there are now higher than in Almaty. Renting a one-bedroom apartment in the capital costs an average of 220,000 tenge per month, while in Almaty it is 210,000. For three-bedroom apartments, the average prices are 500,000 and 400,000 tenge respectively. Notably, the cost per square meter is higher in Almaty than in Astana, but because apartments in the capital tend to be larger in size, the total rental price ends up being higher.

Analysts note that daily rental prices also increased. In Almaty, the average daily rate rose by 11% to 20,000 tenge, while in Astana it rose by 13% to 17,000 tenge.

Earlier, details emerged about the most expensive districts in Almaty for rental housing. An expert also explained the reasons behind high residential property prices in Almaty. Recently, we covered how students can rent an apartment in Almaty affordably.