"Jastari's initiative aids Astana locals in purchasing personal residences"
Capital Residents Find Solace in "Elorda Jastary" Housing Program
Dauren and Kalankas Abilov, young residents of Nur-Sultan, have secured a more comfortable and stable future for their family, thanks to the "Elorda Jastary" housing program. Owing to advantageous loan conditions, the couple was able to purchase an apartment in the capital city.
Previously participants in the 2019 "Rental Housing without the Right to Purchase for Working Youth" program, the Abilovs lived in state-allocated housing for five years. When summoned by the housing fund and offered a preliminary approval visit, the couple was pleasantly surprised to discover a viable opportunity to own a home with attractive terms.
"Upon receiving an invitation to the office for preliminary approval, we were shocked to learn that such an opportunity existed for us," says Kalankas Abilova. "After calculating all the parameters, we determined that the program was indeed suitable for our situation."
The "Elorda Jastary" program targets young specialists to promote favorable lending with a manageable financial burden. Eligible factors include:
- Maximum loan amount: 18 million tenge
- Initial deposit: 10%
- Fixed interest rate: 5% per annum
- Loan term: up to 25 years
Eligible candidates must meet specific criteria, such as age (35 or younger), permanent residency in Nur-Sultan, official employment, and savings in a deposit. Through the "Elorda Jastary" program, the Abilovs were able to acquire a home without incurring excessive costs associated with standard mortgages.
"We are incredibly grateful to the government for this opportunity," says Kalankas. "This program offers significant support to young city dwellers seeking stability and a place to call their own."
Kazakhstan's housing market has seen various initiatives aimed at aiding young residents and low-income families over the years. These programs often involve government incentives, preferential mortgages, and other schemes designed to help individuals afford housing. Some might provide government subsidies, develop affordable housing projects, offer mortgage programs with preferential terms, or offer rental assistance for eligible residents. For exact details regarding the "Elorda Jastary" program or other housing initiatives in Kazakhstan, contacting local government offices in Nur-Sultan or relevant housing authorities is advisable.
The "Elorda Jastary" program, designed for young specialists, provides attractive financial terms, such as a maximum loan amount of 18 million tenge, an initial deposit of 10%, a fixed interest rate of 5% per annum, and a loan term up to 25 years. This program has been instrumental in allowing the Abilovs, eligible candidates due to their age, residency, employment, and savings, to purchase an apartment in Nur-Sultan without incurring excessive costs typically associated with standard mortgages.
