real estate finance| Housing clarifies the way to own an apartment more than 1.4 m

12:09 PM

Saturday 28 August 2021

Books – Mohamed Abdel Nasser:

Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that the current real estate finance initiative with an interest rate of 3% and a repayment period of up to 30 years is available for units less than 350,000 for low-income and 1,400,000 for middle-income.

Abdel Hamid added, in televised statements, that the housing units above 1.4 million will also receive real estate financing, but at an interest rate of 8% and a repayment period of up to 20 years, according to the previous real estate financing initiative, and that the maximum financing for units in this initiative is 2 million and 250 thousand pounds. .

And she continued: “There are two real estate financing initiatives at the present time, the first worth 100 billion pounds, and the maximum income limits are 10,000 for the single and 14,000 for the married, but there is another initiative worth 50 billion pounds for units above 1.4 million pounds and less than 2.25 million pounds, and the maximum income for singles is 40. Alpha and married 50 thousand pounds per month.

The CEO of the Social Housing Fund indicated that citizens who benefited from previous real estate financing initiatives are not entitled to benefit from the new initiative.

She explained that the new initiative for real estate financing will be worth 100 billion pounds, and this value will not be exhausted in one proposal or announcement, but it will continue with us, pointing out that any citizen can obtain an apartment with real estate financing, whether affiliated with the ministry’s projects or outside the projects that are being put forward.

Read also:

real estate finance| Your guide to booking an apartment in “housing for all Egyptians” in installments over 30 years.. “Apply today”

Conditions and papers required to apply for the new offer of social housing


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