On December 3, President of Uzbekistan Shavkat Mirziyoyev held an online meeting focusing on the housing needs of the population and stimulation of mortgage lending, the press office of the President of Uzbekistan reports.
Next year, 14.3 trillion soums will be spent on the construction of about 50,000 new apartments. A subsidy of 32 million soums will be provided to low-income families for the payment of a mortgage origination fee for any type of apartment. The uniform rate of 10% is set up for low-income families throughout the country.
Single mothers and women who do not have their own homes, orphans and people with disabilities will receive access to mortgage loans in the secondary market from next year.
A mechanism a tripartite agreement involving the developer, buyer and bank will be set up, which helps buyers with obtaining finance from banks against a plan to buy a home from a developer.
Incentives for construction companies will be introduced. Contractors will be allowed to put up unfinished but roofed houses as collateral, and top-rating companies will be allowed to buy plots of land at 30 % discount in auctions and pay the rest over the next year.
President Mirziyoyev instructed that the officials and organisations take measures to introduce these innovations and elucidate them to entrepreneurs, as well as prevent the overstatement of construction costs and unfair competition.
