Kazakhstani citizens who do not want to wait in line for housing for years have been offered to use the Nauryz mortgage. This was announced at a government meeting by the Chairman of the Board of Otbasy Bank, Lyazzat Ibragimova. This was reported by Qazaqyia.kz citing Kursiv Media.

According to her, in the next five years, about 300,000 Kazakhstani citizens from the queue will be able to get credit housing. The situation with rental housing is more complicated — the issuance will depend on the pace of construction.

"This year the pace is very high. More than 12 thousand. If we move at this pace, we will solve this problem in 5-8 years," said Ibragimova.

At the same time, the head of Otbasy Bank stated that for those who want to get housing faster, the Nauryz mortgage program with a rate of 7% is in effect.

"That is, our task is to transfer more people to market programs. You can take it more expensive, but faster. Those people with low incomes will wait longer because they want a much lower payment," she explained.

Earlier, Kursiv wrote that the women's mortgage "Umai" will be launched in Kazakhstan by the end of August.

Nauryz Mortgage Terms

The Nauryz program offers a rate of 7% per annum. It is designed for those on the waiting list and allows them to get housing without a long wait. The main goal of the program is to increase housing affordability for various segments of the population.

The Issue of Rental Housing

Lyazzat Ibragimova noted that the issuance of rental housing directly depends on the pace of construction. This year the pace is high — more than 12 thousand houses are being built. If this pace is maintained, the rental housing problem could be solved in 5-8 years.

Expert Opinion

Experts believe that the Nauryz mortgage will help reduce the housing queue but will not solve all problems. To improve the housing market situation, a combination of government programs and private investment is necessary.

Conclusion

Otbasy Bank offers several directions to solve the housing issue. First, the Nauryz mortgage allows those on the waiting list to get housing faster. Second, accelerating the construction of rental housing. Third, introducing the women's mortgage "Umai". These measures are expected to make a significant contribution to solving the housing problem.