Renting dwellings in Kazakhstan: an exploration of the process and financial aspects
Title: Kazakhstan's New Housing Provision System: Debunking the Free Apartment Myth
Introduction:
Buckle up, folks! Starting May 24, 2023, almost every Kazakhstani citizen will have the chance to join the housing queue - but let's bust the myth right off the bat; this ain't about free apartments! Here's everything you need to know about Kazakhstan's novel approach to addressing housing woes.
Will "Basys Bank" be handing out apartments left and right? Hell no. According to our sources, the digital miracle workers at "Basys Bank" will be in charge of managing the queue, and making decisions on which properties from the communal housing fund or from private sector rentals, will be offered to the lucky souls on the queue.
Who's In, Who's Out?
The queue will consist of digital profiles of citizens in need of housing, based on their category and family income. The gist? Tools for solving housing issues will be provided, not free apartments.
So, what tools can you expect?
- Preferential lending under the Concept of Developing Housing and Communal Infrastructure for 2023-2029 - think: build it and sell it to those who can afford, but with special treatment for priority cases (the ones struggling to make ends meet, yo).
- Various programs - from "Nauryz" and "Nauryz Zhumsykер" to regional bank programs, and even the housing savings system.
- And, of course, rental subsidies - because who doesn't love to get a little help with the rent?
The Great Divide: Who Gets the Keys?
Let's talk about the 2025 Concept: if implemented, it should offer approximately 10,000 units of affordable housing, distributed via the "2-10-20" and "5-10-20" schemes. Now here's the kicker - socially vulnerable groups (VSG) may privatize these units and only then become the proud owners. Neat, huh?
Local akimats might also furnish our VSG friends with housing certificates - think of it as a helping hand with the initial mortgage payment for affordable housing.
The Art of Queueing: How It Works
According to the wise words of the bank press service, preferential loans for social housing will depend on the date and year of registration. To make things interesting, at least 70% of the total housing volume will go to those in need during the distribution year.
Brace yourself, social darling: even if you're on the housing queue, it's not an absolute guarantee of a free pad. Being on the queue gives you access to other bank programs such as "Nauryz," where the interest rate for all categories ranges from 9% to 13%, while our VSG can enjoy a slightly sweeter deal of 7% to 9.6%.
Now, Here's the Catch
Some experts have speculated that Kazakhstan's VAT increase could lead to an increase in real estate prices. Be prepared, folks, the cost of a new crib could be a tad steeper than today.
Who's Out, Who's In:
Wanna know who won't be eligible for Kazakhstan's new housing queue system? Don't worry, we got you covered!
Let's Stay Connected:
Stay tuned for the latest news on Kazakhstan's housing queue adventures! Subscribe now!
Subscribe
In the News:
Almaty's 5% Mortgage Plan: How Many Loans Are Planned
Fun Fact:
In 2021, the average apartment size in Kazakhstan was roughly 65 square meters, making it one of the largest in the world. Time to upgrade your living space!
** TLDR;**
Join Kazakhstan's housing queue starting May 24, 2023, but don't expect a free apartment - instead, expect access to housing support tools, such as preferential lending and rental subsidies. The allocation of apartments will depend on your registration date, income level, and category, with socially vulnerable groups potentially eligible for preferential rental and subsequent privatization. Housing certificates provided by local akimats can help low-income families with their initial mortgage payments. Stay tuned for more updates! Subscribe now!
- Starting May 24, 2023, Kazakhstanis will join the housing queue for a chance at accessing government-managed housing solutions, but free apartments are not part of the plan.
- The queue will consist of digital profiles of citizens in need of housing, based on their category and family income, and it will provide tools for solving housing issues, such as preferential lending, rental subsidies, and programs like Nauryz and cashback on mortgage payments for eligible beneficiaries.
- In Kazakhstan's new housing provision system for 2023, beneficiaries might receive housing certificates from local akimats to aid with initial mortgage payments for affordable housing.
- Though free apartments may not be offered, the potential increase in real estate prices due to Kazakhstan's VAT increase should be considered by those planning to purchase housing units from the system.
