The earlier a young family obtains a home of its own, the more likely it is to have more children, according to Lyazzat Ibragimova, CEO of Otbasy Bank, the sole bank implementing housing construction savings system in Kazakhstan.
Ibragimova shared the findings of an international study at a recent government briefing. She said the study provided participants with housing without requiring a down payment — often the main barrier to homeownership — while participants were required to make regular monthly payments.
«The data revealed that the chances of having a child jumped by 32% for people aged 20 to 25,» Ibragimova said.
However, the study found no similar increase in the birth rate among people over age 40.
«Those who receive housing at age 20 and older always have twice as many children as those who receive it at age 30 or older or 40 and older,» the Otbasy Bank chief added.
Housing policy could consider family circumstances
Ibragimova also expressed hope that mortgage lending will eventually take into account the housing circumstances of multiple generations within a family.
Under such a system, applicants whose parents live in rural areas could receive priority over those whose families already own apartments in large cities, assuming all other conditions are equal.
«AI and big data processing will make it possible to build such fair systems and address existing challenges,» she said.
Read also: ADB fuels ‘Umai’ program for women’s housing in Kazakhstan.
