Kazakh PM orders cutting housing down payments
Kazakhstan may lower the down payment on housing programs. Prime Minister Olzhas Bektenov issued the directive, Qazinform News Agency reports.
He said the construction sector's key priority remains completing the planned 20.4 million square meters of housing.
"At the same time, housing must be fully completed and equipped with the necessary infrastructure and amenities," Bektenov said.
Regional akimats (executive bodies) have been instructed to prepare land plots in advance and speed up infrastructure work.
The Prime Minister also said it is necessary to improve housing financing mechanisms and make housing programs more accessible to citizens.
He tasked the Agency for Regulation and Development of the Financial Market, together with the Ministry of Industry, with developing additional proposals on ways to reduce the down payment.
As Qazinform previously reported, household microloans in Kazakhstan reached 1.4 trillion tenge.