The extension of the “facilitated mortgage” stimulates the ownership

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The extension of the “facilitated mortgage” stimulates the ownership

Real estate specialists said: The decision The Council of Ministers by extending the facilitated mortgage program for an additional three years that enhances the ownership of those with intermediate and limited income their first homes, and opens the door to a wide segment that was out of the financing capacity to enter the market."today"The decision enhances the stability of Saudi families, and stimulates the development of housing projects targeting the middle class, while leading to a new wave of demand in major cities. The sustainability of real estate growth in Saudi Arabia. " Facilitated mortgage " An important step to facilitate housing, especially for people with intermediate and limited income."Khaled Al -Mobaideh" Height ="217" SRC ="** np_image_body[2624862]**" Style ="Float: Left" width ="157" />

and expected that the decision will stimulate a new segment of beneficiaries who were outside the financing capacity, which leads to an increase in the volume of demand for housing in the coming period, especially in the main cities and government housing projects. The banking is to balance the expansion of financing and control of credit risks, especially since the banking sector in Saudi Arabia has good capabilities in real estate financing management, but needs to develop additional guarantees tools and insurance that coincides with the flexibility of the facilitated mortgage. Interacting from real estate developers. Government and the private sector. The “facilitated mortgage” for an additional three years represents a strategic step that supports the goals of Vision 2030 to increase the percentage of housing to 70% by 2030.
> and added that the soft mortgage program, which reduces the batch provided from 10% to 5% and provides financing supported by the Ministry of Finance, is an effective tool to facilitate Owning housing , especially for families with intermediate and limited income. "Fawaz

pointed out that the program reduces the financial burdens of citizens by reducing the initial payment and providing financing of up to 70% of the value of the property, which makes having the first house within reach The family. "As the program continues, the demand for housing units is expected to rise at reasonable prices, which motivates developers to develop projects targeting these groups.". It is accompanied by an increase in the supply.