Head of State signs law on housing policy reform

President Kassym-Jomart Tokayev of Kazakhstan inked the law of the Republic of Kazakhstan on introduction of amendments and additions to some legislative acts on reforming the housing policy, Akorda reports.

The law provides for better mechanisms of state support to citizens, kandas (resettlers) to improve housing conditions.

The first set of amendments aimed at implementing the Head of State’s instruction to set up a full-fledged development and support institute at Otbasy Bank for centralized registration on a waiting list and distribution of housing.

Under the law, Otbasy Bank is to continue subsidizing part of rental payment in private housing stock, providing soft housing loans. The Bank is to distribute housing taking into account the date of registration and the level of income, making sure those waiting for too long receive housing first.

Other amendments include introduction of additional guarantees for those in need of housing, additional provisions, that regulate mechanisms of possession and use of housing under the state support mechanisms, betterment of certain provisions of land, construction and deposit insurance legislation.

The text of the law is to be published in the press.