Experts interviewed by Invest-Gate regarding their views on the reasons behind the recession in the resale market agreed that the main reason is customers’ desire to collect the price of properties in cash. Another reason is the long-term installment periods that developers offer for new units, along with mortgage initiatives focusing on units under construction. In spite of these obstacles, experts consider banks to be the best solution to revive the resale market which can be realized by developing conditions for banks’ initiatives to include bigger real estate segments.
The fast-paced economic developments and crises all over the world resulted in surging prices of many commodities, including building materials, which – in turn – pushed higher the cost of real estate projects and, therefore, caused inflation in property prices. Thus, mortgage finance has become the best and only option to maintain activities in the real estate market.
Countless payment options from banks and companies have become available for buyers through the mortgage finance system. Invest-Gate presents plans offered by a number of mortgage companies to guide newly-weds through when starting a family.
Despite the housing boom in Egypt, and the countless payment options that have recently become available to buyers, the mortgage market is still in its infancy with limited popularity despite being widespread in other parallel markets, internationally
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