Renting dwellings in Kazakhstan: an explanation of the process
Revised Article:
Title: Join the Housing Queue in Kazakhstan: Here's How It Works
Starting from May 24, 2023, every Kazakhstani citizen can join the housing queue through the "Housing Provision Center" system, but it's important to note that this doesn't mean free apartment distribution.
"Basys Bank" will be in charge of managing the queue and offering various tools to tackle housing issues, including preferential lending, the "Nauryz" and "Shanyrak" programs, and rental subsidies.
Let's break down who will have a shot at the apartments:
Support for Kazakhstani citizens in resolving housing issues does not involve providing them with free apartments. Instead, "Basys Bank" will create a digital profile of those in need of housing. Based on their category and family income, tools for resolving housing issues will be provided.
These tools may include:
preferential lending under the Concept of Developing Housing and Communal Infrastructure for 2023-2029 - local authorities build social credit housing and sell it through "Basys Bank" under the "2-10-20" and "5-10-20" programs;various programs - "Nauryz", "Nauryz Zhumsykер", regional bank programs, and housing savings system;rental subsidies, as well.
The 2025 Concept is expected to provide around 10,000 units of affordable housing, to be distributed under the "2-10-20" and "5-10-20" schemes. Vulnerable social groups may have the opportunity to privatize these units and become full owners.
Local akimats may also provide housing certificates, which cover part of the initial mortgage payment for affordable housing.
Moving Up in the Queue
When offering queue members preferential loans for purchasing social housing, the evaluation process will be based on the date and year of registration. At least 70% of the total housing volume will be distributed to citizens with priority in resolving housing issues under state support during the distribution year.
Additionally, housing distribution among those in need will consider not only the registration date but also income levels. For example, if the per capita income is one minimum living wage (43,407 tenge), they may be offered rental subsidy or local executive body rental housing.
No More Waiting Game
Being on the housing queue does not guarantee a free apartment, but it grants access to various preferential housing programs, including rent-to-own for vulnerable social groups. Notably, you're not required to wait for your turn to use other bank preferential programs, such as "Nauryz," where the interest rate for all categories is 9%, and for Vulnerable Social Groups (VSG), it's a lower 7%.
"Otbasy Bank" reported that 12,000 Kazakhstanis were included in the "Nauryz" program, with 4,577 (around 38%) being on the housing queue, almost half of whom are Vulnerable Social Groups.
Sources:
- Starting from May 24, 2023, Kazakhstani citizens will be able to join the housing queue through the "Housing Provision Center" information system.
- "Basys Bank" will manage the queue and offer various tools to address housing issues, including preferential lending, "Nauryz" and "Shanyrak" programs, and rental subsidies.
- Information on Kazakhstan's global perspectives, housing policies, and initiatives could not be found in the original article. For further reading on these topics, consider visiting reliable sources, such as the United Nations Human Settlements Programme and the Asian Development Bank.
- The "Basys Bank," responsible for managing the Kazakhstan housing queue, offers various tools in finance and business to tackle housing issues, such as preferential lending and rental subsidies.
- Kazakhstani citizens on the housing queue can participate in the "Nauryz" program, which provides preferential interest rates as low as 7% for vulnerable social groups in the finance sector.
