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Tengrinews.kz - The National Bank of Kazakhstan has developed amendments changing the procedure for purchasing housing. The relevant document was published on the “Open NPA” portal.
According to the National Bank’s draft resolution, Kazakhstanis who purchase a share in a building under construction will now have to pay only in non-cash form, that is, through a bank. Buying an apartment in a new building with cash will no longer be allowed.
This specifically concerns transactions involving the purchase of a share in a building under construction under equity participation agreements (meaning when a person invests in a building under construction and in return, receives the right to an apartment). For such transactions, payment will now only be possible by non-cash methods — money must be transferred through a bank or payment system.
According to the developers, these changes will better protect the rights of citizens:
- who participate in shared construction projects;
- who conduct financial transactions;
- who receive assistance after emergencies.
The drafters of the initiative say that the effect of these changes is expected immediately after the draft goes into force.
The National Bank’s draft resolution is under public discussion. The discussion will continue until July 15.
