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According to the newly signed Decree of the President of the Republic of Uzbekistan "On Additional Measures for Development and Expansion of the Mortgage Lending Market" it is planned to extend mortgage loans under the following conditions from January 1, 2020:

• - Grace period will be reduced to 1 year.
• - During the first 5 years of using the credit, the fixed rate will increase from 7% to the refinancing rate of the Central Bank
• - The monthly payment will include the full payment of interest accrued on the balance of principal debt.

Also, from January 1 a number of VAT exemptions provided under targeted programs will be canceled:

• - to abolish privileges (except VAT) granted to general contractors, contractors and subcontractors, organizations for the production of construction materials, equipment, construction equipment and vehicles.
• - To abolish personal property tax exemptions.
• - not to impose personal income tax on wages and other income of individuals and members of their families (co-borrowers), subject to taxation and directed to the repayment of mortgage loans

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