Kazakhstan to introduce an insurance system for shared construction deposits
11 July 2012 Reading: 2 min Views: 2 133
Kazakhstan needs to introduce an insurance system for shared-equity deposits in housing construction.
Kazakhstan needs to introduce a system for insuring shared-equity contributions to housing construction. This was stated by the President of Kazakhstan Nursultan Nazarbayev in his article “Social Modernisation of Kazakhstan: Twenty Steps towards a Society of Universal Labour”, published on Tuesday.
In the policy article, the President states that it is important to improve legislation in order to develop the rental housing market.
“It appears necessary to create and comprehensively develop a system for insuring shared-equity contributions to housing construction,” the article says.
The Head of State also calls for encouraging the creation of specialised companies to manage the state rental housing stock and for protecting the rights of long-term tenants by developing standard contracts.
“All rental agreements must be transparent and clear. It is important to streamline the process of collecting documents to obtain rental housing,” N. Nazarbayev states.
“New impetus is needed to expand individual housing construction, especially around promising urban agglomerations and single-industry towns. Tax incentives and easier lending terms could be introduced here for those who wish and are able to build their own home,” the President notes.
It should be recalled that Kazakhstan is currently implementing new large-scale programmes, “Affordable Housing 2020” and “Modernisation of Housing and Utilities”.
