600 pounds per month.. We publish the installments of housing apartments for all Egyptians 3

07:31 PM

Sunday 18 September 2022

Books – Mohamed Abdel Nasser:

The Social Housing and Real Estate Finance Support Fund announced the opening of reservations for fully-finished housing units, as part of President Abdel Fattah El-Sisi’s initiative “Housing for All Egyptians 3” for low- and middle-income citizens.

Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that citizens can purchase the terms of reference, pay the serious reservation advance, and administrative expenses, through automated post offices in the cities and governorates where housing units are offered, as of Sunday, September 25, 2022. And until Saturday, October 1, 2022, for citizens with special needs only, and from Sunday, October 2, 2022, and until Thursday, October 27, 2022, for all citizens, including people with special needs.

She emphasized that the new offering includes units ready for immediate delivery in the following governorates and cities (Luxor, Qalyubia, New Burj Al Arab, Fayoum, New Fayoum, Beheira, Kafr El Sheikh, Marsa Matrouh, Assiut, Menoufia, Ismailia, Sohag, New Akhmim, Sharkia, Suez, Beni Suef, Gharbia, Damietta, Aswan, Dakahlia, North Sinai, Qena, Minya, New Minya), in addition to housing units to be delivered within 18 months in cities (New October “West of the Airport”, “Jerza Al-Qatouri – Al-Ayat”, Damanhour).

She pointed out that the selling prices of the units presented within the new advertisement range between 194 and 310 thousand pounds, while the value of the serious reservation provider ranges between 15 and 22 thousand pounds.

She stressed that citizens must pay a down payment starting from 10% for low-income units, and starting from 15% for middle-income units, for a period of up to 30 years, at a decreasing annual interest rate of 3%, according to the detailed terms of the initiative issued by the Central Bank of Egypt on July 13, 2021.

The prices of social housing apartments will be 207 thousand pounds for units in the governorates of Lower Egypt, the cities of the Canal, North and South Sinai, and 194 thousand pounds for units in the governorates of Upper Egypt, without a share in the land, other than the maintenance amount of 5% of the selling price is not refundable or refundable. The maximum price of apartments is 310 thousand pounds.

Calculation of the monthly installments for social housing apartments:

15 thousand down payment will be made for the seriousness of the reservation, so if the unit is 194 thousand, there will be 179 thousand pounds left, and at the time of receipt, a receipt payment will be paid, which is estimated at 30 thousand on average, which can increase or decrease according to the client’s situation, which depends on the age and monthly income.

Thus, 149 thousand pounds will remain from the price of the apartment, which will be paid in installments over the financing period of up to 30 years, with the real estate financing system at an interest rate of 3%.

If the financing period is 30 years, the installment will be 624 pounds per month, and if the financing period is 20 years, the installment will be 823 pounds every month.

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