The President transferred his house to GIK OJSC to support citizens of the country in housing need.
On September 30, President of the Kyrgyz Republic Sadyr Japarov handed over the documents for his two-storey house to the State Mortgage Company OJSC and informed Chairperson of GIK OJSC Aida Tologonova of the parameters of this immovable property, the press office of the President of Kyrgyzstan reports.
During the key handover ceremony, Japarov said the action aimed to improve the housing market and help citizens of the country in housing need.
The President noted that if GIK OJSC decided to action off his house, then this money would be spent on the apartments for 10 families under the mortgage programme.
Japarov reminded that the new mortgage programme, under which public sector employees would receive a loan at a rate of 4% per annum to buy residential property, had been launched.
Since GIK works through banks, a participant in the mortgage programme should make an initial contribution of at least 10 percent of the value of the residential property. In the future, the mechanism of rental housing with purchasing rights will be applied without making an initial contribution.
