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Kazakhstan looks to amend legislation to improve housing policy

Business Materials 23 February 2021 17:58
Kazakhstan looks to amend legislation to improve housing policy

BAKU, Azerbaijan, Feb. 23

By Nargiz Sadikhova - Trend:

Kazakhstan’s Prime Minister Askar Mamin instructed the government to submit to the Government a bill on amendments to the legislation to implement new approaches in housing policy and to make appropriate changes to the Nurly Zher State Program this year, Trend reports citing the press office of the government.

Mamin made the statement during the government session where new approaches to housing policy were considered.

“The effective implementation of the housing policy will allow us to bring the provision of housing to 30 square meters per 1 person by 2030. The Head of State Kassym-Jomart Tokayev, presenting the electoral program of the Nur Otan party, ordered to build over 100 million square meters of housing in the next five years. Thus, we will provide housing for about 1 million families,” Mamin said.

The prime minister stressed that the housing policy is being reformed in order to implement the set large-scale tasks.

The new set of measures provides for a further increase in the affordability of housing, stimulating the inflow of investments by private developers in the construction of rental housing. Approaches have been developed to increase the volume of housing financing on market terms.

The main tool in this work is the created Otbasy Bank, which will centrally form and maintain a queue of citizens in need, selling them affordable housing within the framework of the Nurly Zher State Program.

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