Kazakhstanis tired of waiting years in line for housing can speed up the process with the Nauryz mortgage program. This was announced at a government meeting by Lyazzat Ibragimova, Chairperson of the Management Board of Otbasy Bank, as reported by infohub.kz.
According to Ibragimova, in the next five years, about 300,000 Kazakhstanis from the queue will be able to obtain credit housing. However, the situation with rental housing is more complicated: availability will depend on the pace of construction.
"This year, the pace is very high. More than 12,000. If we keep moving at this pace, we will solve this task in 5–8 years," said Ibragimova.
The head of Otbasy Bank noted that for those who want to get housing faster, the Nauryz mortgage program is available at a 7% rate. "Our goal is to move more people to market programs. You can take a more expensive option but faster. Those with low incomes will wait longer because they want a much lower payment," she explained.
Earlier, it was reported that Kazakhstan will launch the Umai women's mortgage by the end of August.