NEW HOUSING POLICY TO BE REALIZED

Ulaanbaatar /MONTSAME/ The cabinet April 13 decided to realize a new housing policy. The new features are that any adult can take mortgage loan from any commercial bank and spend this money for buying an apartment--not more than 80 square meters, new or used one, must be able to pay an advance equal to 10-30 percent of the whole price. The soft loan will be given for 20 years with an interest of 8-9 percent a year. Ministers of economical development and of urban construction N.Batbayar and Ts.Bayarsaikhan were given orders such as to approve and regulate all necessary procedures, to have the commercial banks give money to those constructions that are supposed to be put into operation in 2013-2014 but have problems with financing, and to approve and then erect one thous.300 apartments in frames of an “Apartments for rent” program for those who cannot afford buying the apartments through the mortgage. By the 2012's statistics, only 23,8 percent of the whole population and 40 percent of the Ulaanbaatar people live in apartments. Others live in gers (national dwelling). D.Enkhbileg