Minister of Construction and Urban Development D.Tsogtbaatar announced that the cabinet has supported the reduction of the deposit to 10 percent. It is evident that many would like to be included into the program. It has been anticipated on the rules and regulations stating who would become the lucky ones to be eligible for the 10 percent deposit.
Ministry of Population Development and Social Welfare conducted research on living standard involving 90 percent of the total population. Based on this research the population was categorized into two categories by its living standards. If one falls into categories 7-15 that person can start looking for the new apartment. Then who falls into the category?
Minister of Population Development and Social Welfare S.Erdene said that the results of the research on living standards are not to be disclosed as the it contains sentitive information regarding the personal data of the residents and said that the regulations on 10 percent deposit for the mortgage loans are to be approved within next month, which is to state which part of the research results to be disclosed.
Categories based on the living standards are:
- 0-4 group residents - Poor and below the living standard. All the state subsidies should be directed at this group.
- 5-10 group residents - Residents below middle income
- 11-15 group residents - Residents with middle income
- 16 and up group - Residents with high income.
This implies that residents with high income fall out of the 10 percent deposit program.
Minister of Construction and Urban Development D.Tsogtbaatar concluded this program to be beneficial for the construction sector as suppliers and development companies are facing downturn currently.
Minister of Construction and Urban Development D.Tsogtbaatar announced that the cabinet has supported the reduction of the deposit to 10 percent. It is evident that many would like to be included into the program. It has been anticipated on the rules and regulations stating who would become the lucky ones to be eligible for the 10 percent deposit.
Ministry of Population Development and Social Welfare conducted research on living standard involving 90 percent of the total population. Based on this research the population was categorized into two categories by its living standards. If one falls into categories 7-15 that person can start looking for the new apartment. Then who falls into the category?
Minister of Population Development and Social Welfare S.Erdene said that the results of the research on living standards are not to be disclosed as the it contains sentitive information regarding the personal data of the residents and said that the regulations on 10 percent deposit for the mortgage loans are to be approved within next month, which is to state which part of the research results to be disclosed.
Categories based on the living standards are:
- 0-4 group residents - Poor and below the living standard. All the state subsidies should be directed at this group.
- 5-10 group residents - Residents below middle income
- 11-15 group residents - Residents with middle income
- 16 and up group - Residents with high income.
This implies that residents with high income fall out of the 10 percent deposit program.
Minister of Construction and Urban Development D.Tsogtbaatar concluded this program to be beneficial for the construction sector as suppliers and development companies are facing downturn currently.