Large families will be able to get affordable housing under the new state program. Chair of Housing Construction Savings Bank of Kazakhstan JSC Lyazzat Ibragimova told about the criteria and conditions for acquiring housing during the press conference in the Government.

According to Ibragimova, a careful analysis of large families showed that families' incomes range from the lowest wages to higher ones. In general, 100 billion tenge is allocated annually on behalf of the Head of State. The first category is families that receive targeted social assistance, they live on state resources, their income is very low. Rental housing without a purchasing option will be provided to them.

“This year, 50 billion tenge was allocated to speed up the process so that large families would not wait for this housing to be built. Among them, 25 billion tenge will be allocated for construction, 25 billion tenge — for the purchase of finished housing and 50 billion tenge will be allocated separately to the savings bank,” Ibragimova said.

As noted by the chair, the bank’s task is to provide more solvent citizens, whose income per family member is between 20,000 and 42,500 thousand tenge.

“Suppose a family has four children and the income for two parents is about 260 thousand tenge. They will participate in our program. They will have a rate of 2% per annum, the down payment — 10%, while akimats can help those who do not have enough down payment to provide a housing certificate. When we simulated this program mathematically and economically, we tried to achieve such a payment, which these people are now paying for rent. After all, now large families rent apartments on the outskirts of cities, temporary houses. Therefore, with a sum of 8 million tenge, the first eight years of payment will be 42 thousand tenge, which is actually the same amount as they pay today for a small hostel. The next 10 years, the payment will be 27 thousand tenge,” explained Ibragimova.

Meanwhile, the program provides for the acquisition of both new housing and secondary housing.

“The goal is to provide housing and it will depend on the solvency of each family. We have no restrictions on the size of the apartment, on square meters, there will be a restriction only related to income. If you are a highly paid citizen, then you will not participate in this program. The limit will be 42.5 thousand tenge per family member and the second is the lack of own housing. All those who will participate in this program are those who currently rent housing and do not have their own,” she explained.

In addition, the she stressed that within the framework of the new housing program, the apartment being acquired will become the key to the issue of housing.

“There is no need to look for any additional collateral for large families,” Ibragimova added.