Tashkent, Uzbekistan (UzDaily.com) -- The Presidential Decree “On additional measures to provide the population with housing through the allocation of mortgage loans based on market principles” was adopted.

According to the decree, within the framework of the new procedure for providing the population with housing through mortgage loans, multi-apartment residential buildings will be built on the basis of market principles.

By decree in 2021, within the framework of the new order, the following will be built:

- 33 114 apartments and individual residential buildings in the republic;

- multi-storey residential buildings in rural areas, consisting of 8,336 apartments;

- multi-storey residential buildings, consisting of 3,550 apartments, for a certain category of citizens.

Also, the estimated cost of housing, the maximum size of mortgage loans allocated to one borrower, and subsidies allocated from the State budget to compensate for part of the down payment on mortgage loans in 2021 were approved.

The procedure for granting loans to individuals for the construction and reconstruction of individual housing applies to all regions (previously only in Andijan, Namangan and Ferghana regions).

Wherein:

- loans are allocated for construction (reconstruction) in the Republic of Karakalpakstan and regions of 500 individual residential houses, in total - 6,500;

- loans are allocated for a period of 20 years (inclusive) with a six-month grace period in an amount not exceeding the maximum size of mortgage loans, and an initial payment of at least 15 percent of the cost of construction (reconstruction) of individual residential buildings;

- for mortgage loans allocated for individual housing to citizens with a low level of income and needing to improve their living conditions, during the first 5 years, subsidies are allocated from the State budget to cover the interest rate, in the part exceeding 10 percentage points;

- subsidies are paid from the month following the month of registration of the cadastral documentation of the constructed (reconstructed) individual housing.