Economy • 17 January, 2019

2018 was a record year for obtaining apartments and provision of housing for Kazakhstanis

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In 2018, 38,250 Kazakhstani families were provided with housing, while every fourth loan was issued within the framework of the State Housing Program Nurly Zher. This was announced today at a press conference in the Government by the Chairman of the JSC Housing Construction Savings Bank of Kazakhstan Lyazzat Ibragimova.

“For three years under the Nurly Zher program we have issued and provided housing for the sum of almost 100 billion tenge. The most record was the year 2018 — our depositors and the waiting list received 8,659 apartments. Now we have more than 1.2 million open deposits in our portfolio, from which more than 150 thousand depositors are waiting for local executive bodies. This housing was provided for 64 billion tenge, about 10% of investors saved up on this value completely inside the bank and were able to make a full redemption,” Ibragimova informed.

As she noted, the Nurly Zher program provides the most favorable conditions in the country. Firstly, one must have the citizenship of the Republic of Kazakhstan or the status of oralman, and secondly, during the last five years the depositor should not have had housing.

“The bank provides only those who have no housing. These people come to us from akimats, pass the assessment of solvency and receive a loan for the conditions of 20% down payment, with a rate of 5% for this loan. Under the terms of the program, the cost of 1 m² of rental housing is fixed and amounts to 180,000 tenge in Astana, Almaty, Atyrau and Aktau. In other regions, the price does not exceed 140,000 tenge,” she said.

In 2019, the bank plans to credit its depositors under the Nurly Zher program for 59.7 billion tenge. Housing under the State Program for the bank clients will be implemented in all regions of the country. In 2019, according to regional akimats, it is planned to commission another 14,220 apartments.

In total, under this state program (since the end of 2016), 13,197 Kazakhstanis could celebrate a housewarming. Loans for the redemption of square meters were issued in the amount of 98.2 billion tenge. Of these, 69% of the funds were allocated from the republican budget, another 31% were own funds of the bank. The greatest demand is noted for two-bedroom apartments, more than 60% of the realized housing are apartments with two rooms.

“In his Address, 'Growing Welfare of Kazakh Citizens: Increase in Incomes and Quality of Life,' the Head of State highlighted the success of the Nurly Zher program, which provided a powerful impetus to housing construction and helped thousands of Kazakhstanis to find their homes. With its help, those who stand in line for housing in local akimats, those who work in the public sector and whose income does not allow to buy housing on market terms can buy an apartment at preferential prices,” Ibragimova said.

It is worth noting that, in general, the Nurly Zher program accounts for 50% of the housing sold in the primary market through the Housing Construction Savings Bank. In total, in 2018, the bank has helped 38,295 Kazakhstani families to purchase their housing. Now 1.3 million Kazakhstanis trust their savings in the bank. On their accounts, they have already collected 624.2 billion tenge. To save them for future housing helps not only the bank, but also the state. All depositors of the bank receive a state bonus of 20%. It is charged on an amount not exceeding 200 MCI (505,000 tenge in 2019). According to the 2018 results, the depositors of the state will receive a state bonus in the first half of February 2019.

Recall that the JSC Housing Construction Savings Bank of Kazakhstan is the only bank in the country that implements the system of housing construction savings. The Bank is a member of the European Federation of Building Savings Banks and the International Housing Finance Union. The sole shareholder of the bank is Baiterek National Management Holding JSC.

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