Government approved mechanism of unsold flats purchase

ASTANA. February 17. KAZINFORM /Aigul Tulekbayeva/ In order to support the real estate market subsidiary structure of ?SamrukKazyna? National Welfare Fund will acquire unsold flats from the developers through auctions, Kazinform reports.

It means that the Fund of Rental Housing will purchase these flats in order to lease them out to the population giving them a right to buy them for the term of 20 years or through attraction of savings of ?Zhilstroisberbank?. According to K. Kelimbetov, the Fund, ?generating stable money flow will be moved to the stock exchange?. ?Thus, a civilized, transparent and regulated market of rental housing will be established, first of all in Astana and Almaty cities?, he added. As Vice Premier Umirzak Shukeyev noted, the cost of renting will make about USD 600 per month (for 100 sq m).