Starting from 194 thousand pounds... Prices for social housing apartments using the real estate financing system

The Ministry of Housing and Urban Communities has set the prices of social housing apartments within the supplementary announcement for “Housing for All Egyptians 3,” with the real estate financing system, for which reservations were opened today, for citizens booked in the first offering of the announcement, and those who meet the conditions and who are outside the priority of currently available units, for low-income people.

Prices of social housing apartments

The prices of social housing apartments, as determined by the Ministry of Housing and the Real Estate Finance Fund, which are being offered today, Sunday, December 3, 2023, with a number of 100,000 housing units, are as follows:

Unit prices start from 194 thousand pounds.

Prices per unit reach 530 thousand pounds, depending on the location of each unit.

Quarterly payments are made starting 3 months after the advertisement is closed and for a period of 3 years.

The payment amount is 6 thousand pounds.

The amount of support provided to citizens was doubled from 60,000 pounds to 120,000 pounds for units delivered within 36 months.

The serious reservation deposit required to be paid in the amount of 6 thousand pounds will be completed through one of the automated post offices during the announcement period.

Apartment spaces

According to the advertiser from the Ministry of Housing, the apartment areas include “90 square meters consisting of 3 rooms and a hall, and they are divided into units ready for delivery, at the same price and conditions as the original advertisement, and there are other units ready for delivery within 36 months with a fixed interest rate of 7.5% for 20 years.”

Prices of social housing apartments

The selling price of a 90-meter residential unit is 500 thousand pounds in installments in all cities except Burj Al Arab at a price of 530 thousand pounds. Prices are subject to increase within a maximum of 15%. There are also units for 194 thousand and 207 thousand pounds, and this depends on the location of the unit. 

Apartments 90 meters (3 rooms and a hall)

The advertisement is divided into units ready for delivery, with the same price and conditions as the original advertisement, and other units ready for delivery within 36 months with a fixed 7.5% interest for 20 years. The amount of support provided to citizens has also been doubled from 60 thousand pounds to 120 thousand pounds for units delivered for 36 months.

Apartments ready for immediate delivery

The terms of the original advertisement apply, and the down payment will be completed with a minimum of 10% of the total value of the residential unit upon contracting, with an addition of 5% of the selling price of the residential unit as an amount for maintenance.

Delivery apartments 36 months

As for the units, delivery of 36 months, the serious reservation deposit required to be paid will be completed in the amount of 6 thousand pounds, and the amount will be paid in one of the automated post offices during the advertisement period, and quarterly payments will be made starting 3 months after the closing of the advertisement and for a period of 3 years, and the value of the payment is 6 thousand pounds.