Otbasy Bank, in partnership with property developer Nest Stroy, has launched a pilot housing program that allows recipients of housing allowances to deposit 30% of an apartment's purchase price into an Otbasy Bank savings account, move into the property and obtain ownership after 10–11 months, according to the bank.
Program Terms and Conditions
Under the program, housing is provided on a rent-to-own basis. The apartments are located in the Gate City district of Alatau City and can be selected through the Baspana Market platform.
Eligible recipients of housing allowances are required to make an initial deposit equivalent to 30% of the apartment's purchase price into an Otbasy Bank savings account. Participants can then move into their selected apartments and reside there for 10–11 months. The developer provides the apartments fully finished and furnished. During this period, participants accumulate the minimum required assessment score to qualify for an interim housing loan from Otbasy Bank.
The apartments come furnished with kitchen and bedroom furniture sets, as well as built-in wardrobes in the hallways. According to company representatives, the residential buildings have already been commissioned and are ready for occupancy.
The program is available not only to military personnel but also to other eligible recipients of housing allowances, including employees of the police, prosecutor's offices and the Ministry of Emergency Situations.