Monday 19 September 2022
Books – Mohamed Abdel Nasser:
Mai Abdel Hamid, CEO of the Social Housing and Real Estate Finance Support Fund, said that the maximum monthly income rate was changed in the latest offering of 3 housing for all Egyptians, to keep pace with the increase in the current rate of wages and prices, with the aim of enabling them to obtain subsidized housing units, as the limit became The maximum for the low-income category is 6000 pounds per month for a single individual, and 8000 pounds per month for the family.
She emphasized that the average maximum income for the middle-income category is 13,000 pounds per month for a single individual, and 18,000 pounds per month for the family.
She explained that those who received salaries of 1500, 2000 and 2500 pounds can apply for the initiative, and mentioned that the support allocated to the unit is twice its price; Because of the interest subsidy at 3%, the cost of utilities and land, and the cash support, he continued: “The installment represents a maximum of 40% of the income, and the lower income receives more cash support.”
She pointed out that most social housing units range in price between 194 thousand and 207 thousand pounds.
The CEO of the Social Housing Fund confirmed that 3 sites within the advertisement in which the citizen receives the unit after 18 months, “stressing that the prices for income levels are very appropriate, and the advances are 10% for low-income, and the installment starts at 427 pounds, pointing out that the fund raised the ceiling The income of the applicants is 8 thousand for the family and 6 thousand for the single, for the low-income, in order to expand the advanced bracket.
She indicated that the fund’s rejection rate is within 10% and the bank is 15%, because the income exceeds the limits set or the citizen has previously benefited from other initiatives, stressing that the fund is keen to grant the unit to the beneficiaries, especially since it is heavily supported.