Govt'l organizations to grant housing loans to their employees - Roman Sklyar
"Regarding the fifth direction, i.e. increasing the mortgage affordability. In view of the introduction of the 7-20-25 mortgage program within the framework of the Kazakh President's Five Social Initiatives, this direction shall be excluded from the draft of Nurly Zher Program, and the remaining liabilities for paying out the subsidies under the concluded contracts shall be continued. The status of Nurly Zher Program has changed into governmental. The draft governmental program has been submitted to the Government," First Vice Minister of Investment and Development of Kazakhstan Roman Sklyar told a session of the Kazakh Government on Tuesday.
The draft program covers implementation of the Kazakh President's Five Social Initiatives. For instance, starting 2019, it is proposed to increase annual funding for the construction of rental housing without purchase option by KZT 10 billion. This will provide social housing to 1,000 citizens per year additionally.
"There are provisions for government-owned and non-governmental enterprises to support their employees. Moreover, the organizations will be able to issue housing loans to the employees, including as a down payment. It will significantly help solve housing problems of teachers, doctors, and civil servants," Roman Sklyar said.
Within the amendments, the housing loans will be provided to depositors of second-tier banks and the House Construction Savings Bank of Kazakhstan.
Roman Sklyar informed that over the past five months of the current year, a total of 4.6 million square meters of housing have been commissioned, which is 2.7% up year-over-year. More than 40,000 families have improved their living conditions, of which about 2,000 families did that through public funding.