In installments over 20 years, 130,000 fully finished 3-room apartments will be offered in 16 cities
The Social Housing Fund and Real Estate Finance Support is preparing to launch the new announcement of the Housing for All Egyptians project as a supplementary announcement in 16 cities within days.
The expected announcement of the social housing units of the Housing for All Egyptians project includes those transferred from previous announcements according to the new conditions, as well as those wishing to obtain a housing unit from citizens by applying during this announcement.
Conditions of the Housing for All Egyptians project
2- The maximum repayment period is 20 years.
3- Amending the minimum down payment to become 20% instead of 15%.
4- Paying the down payment in 12 installments on a quarterly basis over 3 years.
5- The return rate on real estate financing is 7.5% fixed throughout the financing period.
6- The maximum installment ratio to income is 50%.
7- The Central Bank is addressed to circulate to financing entities in line with the decision of the Board of Directors of the Financial Regulatory Authority No. 91 of 2022.
Conditions for Housing for All Egyptians Apartments
1- Amending the maximum income brackets allowed to obtain units of the Housing for All Egyptians project to become:
- 10 thousand pounds for a single person as a maximum.
- 13 thousand pounds for a family as a maximum.
2- The maximum cash support granted to citizens shall be 120 thousand pounds at a monthly income level of 3500 pounds per month, and shall gradually reach 5000 pounds at an income level of 7000 pounds per month.
3- The average support granted to citizens financed under this protocol shall not exceed 90 thousand pounds.