Construction and Housing Development Bank (CHDB) will offer an installment system for the low-cost and fair-cost housing apartments which the government will soon offer for sale, it is learnt from CHDB.
The low-cost housing apartments will sell for between Ks9.7million to 13.4million per home, with each 19×25 unit. Those who want to buy those apartments under the instalment plan linked with CHDB have to open a Housing Savings account with an initial deposit of Ks10,000. They have to save 30 per cent of the value of the flat they want to purchase, it is learnt.
The amount of monthly deposit in the Housing Saving account will be dependent on income, receiving 8.5 per cent of interest per annum on the basis of their savings. Those who reach 30 per cent of the flat’s value in their savings accounts will be listed at the Human Settlement and Housing Development Department. When the government calls for application for the apartments, those who have deposited at least 30 per cent of the value of a flat at CHDB will be given priority.
Source: Global New Light of Myanmar
