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Analysis of the mortgage market

 

The main directions of long-term housing finance, accepted by the world, are the system of mortgage lending and building savings. Therefore, the formation of the Kazakhstan system of mortgage lending and building savings is one of the priorities of housing policy.

The introduction of building savings will make a significant contribution to the solution of such problems as housing, as saving encourages participation in the financing of public housing. Construction savings system does not require a developed financial markets and is focused on segments of the population with average incomes.

Kazakhstan's practice of purchasing property in the system of building savings originated in 1994 on the basis of the Decree of the President of the Republic of Kazakhstan in 1993 was created by the State Bank of Housing, which is responsible for long-term lending to the population and housing construction companies short-term lending. Then the Housing Construction Bank (later became part of CenterCredit) managed to establish partnerships with experts from Germany Housing loan. German model began to be applied taking into account the peculiarities of the local market. Bank attracted more than 450 construction and savings deposits amounting to about 30 million. Tenge.

Construction continues to grow especially in large cities. This is mainly due to mortgage loans.

Mortgage lending - one of the most effective ways to attract investment in the housing sector. This mortgage allows you to reconcile the interests of the population - to improve the living conditions of banks - in an efficient and profitable operation, building complex - in rhythmic production and loading states interested in economic growth, which will contribute to the widespread mortgage lending.

At the same time it created a new financial institution, JSC "Kazakhstan Mortgage Company". The purpose of CIC is to refinance the banks of the second level through the acquisition of rights of claim on mortgage loans to increase the volume of second-tier banks mortgage loans. Thus, the achieved reduction in price of credit resources for consumers, which should be a priority in decision-making within a given market. CIC buys the rights to the quoted rate, which depends on the inflation rate, the margin investors, KMC margins, insurance reserves and the cost of feed. In 2013, the program of Kazakhstan Mortgage Company was granted a first mortgage loan in the Republic of Kazakhstan. From that moment begins his report history of mortgage lending in the country. [6]

In 2014 begin to show positive trends in the development of mortgage lending. In 2011, an estimated CIC in Almaty on average per month were issued about 250-300 mortgage loans, ie about 10-13% of the total number of transactions on sale of housing, in 2012 the number of transactions involving mortgages increased sharply, reaching currently about 600-700 transactions per month (ie, 25-30%). In 2001, the rate of mortgage loans is 20 to 24%, and the term was only 5 years old, in 2002, rates fell to the level of 16-19%, and the time increased to 10 years, in 2003 it became possible to get loans to 12 5% per annum and up to 20 years. By the way, for a longer period to increase lending to large it does not make sense. For example, if you take out a loan at 10 000. e. for 20 years at an interest rate of 12% per annum, the monthly payment would be 110 at. e. The same thing, but with an increase in the loan term to 25 years - the payment will be at 105. e., that only 5 y. e. less, but at the same period will increase by as much as 5 years. It is important to note that until 2013, the Bank moved to inactive regions. Development of the mortgage was observed mainly in Almaty, Astana and Atyrau - in cities where formed the most favorable and easily predictable levels of real estate prices. But in 2013, the situation is changing, and quite strongly. Active mortgage loans in cities such as Aktau, Shymkent, Aktobe, Uralsk, Ust-Kamenogorsk, Karaganda, Pavlodar. Banks have become more willing to work in the regions. First of all, it shows the growth of the largest cities of Kazakhstan. In addition, the successful development of mortgage lending in Kazakhstan has become an example for other CIS countries, particularly Ukraine. At the end of August 2013 a representative Ukrainian delegation headed by Sergei Tigipko visited the Republic of Kazakhstan to study the experience of formation and functioning of the mortgage system.



 

 


Date: 2015-12-24; view: 559


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