Public servants find it challenging to save for housing - Akhmetbekov
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You know what's been bugging the folks in this country lately? Affordable housing. And, uh, it's a hot topic that the People's Party of Kazakhstan has been hammering on. Their goal is to make sure every citizen can have decent, affordable housing. The government's got programs aplenty for this, run by AO "Otbasy Bank."
Now, here's the thing. Due to the rise in housing prices over the past year, the current programs ain't cutting it for a considerable chunk of people, like civil servants earning between 150k and 200k tenge a month. You guess it - they don't qualify for any housing help.
That's what Deputy Zhambyl Akhmetbekov, a sharp guy, figured out. He sent a request to the higher-ups, asking for a reduction in the initial deposit for beneficiaries of the local executive bodies to obtain a loan from AO "Otbasy Bank."
Now, AO "Otbasy Bank" has some programs for affordable housing, including the "Military Product," "Baqyt Otbasy," "Shanyrak," and "Nurly Zher." But the main requirements for "Nurly Zher" and "Shanyrak" are having a deposit in "Otbasy Bank" and proof of solvency. The income per family member over the past six months should not exceed 3.7 times the minimum living wage. That's around 127k tenge a month in 2021.
But these programs aren't cutting it for civil servants making that kinda money. They spend a big chunk of their income on rent, and they can't meet the criteria for any housing program and can't save up enough for that initial deposit.
Akhetbekov reckons housing under government programs should be available to everyone, not just the socially vulnerable. He also proposes increasing the income threshold per family member to 6 times the minimum living wage, raising the maximum loan amount, and lowering the initial deposit for certain applicants.
So, that's the lowdown on housing in Kazakhstan and civil servants' plight. To get a precise idea of eligibility, it's best to consult the Ministry of Labor or the Agency for Housing Policy.
- Regardless of the existing housing programs run by AO "Otbasy Bank", the current prices have proven insufficient for a significant number of people, such as civil servants earning between 150k and 200k tenge monthly.
- Highlighted within the housing issues in Kazakhstan is the struggle faced by civil servants, who spend a substantial portion of their income on rent and fail to meet the criteria for any housing program due to the initial deposit and proof of solvency requirements.
- Deputy Zhambyl Akhmetbekov has proposed adjusting certain terms of housing programs to address this issue, including increasing the income threshold, raising the maximum loan amount, and lowering the initial deposit for specific applicants, with the aim of making government-assisted housing available to all, not just the socially vulnerable.
- In order to gain a complete understanding of eligibility for housing programs, it is advisable to consult either the Ministry of Labor or the Agency for Housing Policy.
