Severe housing shortage in Aghwat, Algeria
The Algerian region of Aghwat is reportedly suffering from a severe housing shortage, according to recent reports in Al-Khabar daily. The number of houses needed to allay the crisis is estimated at 10,000 residential units, 7,000 of which are required to replace existing dilapidated housing facilities deemed inappropriate for residency.
Among the major causes for the crisis in the Algerian housing market are policy constraints as well as lack of capital resulting from a poor mortgage market with no affordable loans. In an effort to aid Algeria, the World Bank has recently approved $150 million in loans to support low-income housing in selected regions of the country.
Some 344,000 residents presently inhabit the region, occupying a total of 45,565 housing units. Of this total, 5,344 are collective units, whereas 9,933 are traditional houses and 6,988 are temporary residencies. — (MENA Report)
© 2001 Mena Report (www.menareport.com)