The Social Housing and Real Estate Finance Support Fund will start offering the terms of reference to reserve housing apartments for all Egyptians 3, the day after tomorrow and until Saturday October 1, 2022 for citizens with special needs, and from Sunday October 2, 2022, until Thursday, October 27, 2022, for all citizens, including people with special needs.
The terms of reference, the payment of the seriousness of the reservation, and the administrative expenses are purchased through the post offices in the cities and governorates in which the housing units are offered.
Prices of housing units for all Egyptians:
The selling prices of units for low-income people range between 194 and 310 thousand pounds, and the value of the serious reservation provider ranges between 15 and 22 thousand pounds.
An advance payment starting from 10% for low-income units for a period of up to 30 years at an interest rate of 3% annually, decreasing, according to the detailed conditions of the Central Bank initiative.
A down payment starting from 15% for middle-income units, for a period of up to 30 years, at a decreasing interest rate of 3% annually, and the seriousness of the reservation ranges between 15 and 22 thousand pounds.
Calculation of the monthly installments for social housing apartments:
15 thousand down payment will be made, the seriousness of the reservation, if the unit is 194 thousand, there will be 179 thousand pounds, and at the time of receipt, a receipt payment will be paid, which is estimated at 30 thousand on an average that 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.