The Ministry of Housing, through the Social Housing and Real Estate Finance Support Fund, has outlined a set of conditions for reserving a residential unit in the “Housing for All Egyptians” project. These requirements ensure fairness and prioritize those most in need. Here are the key conditions:
1. One Unit Per Family Per Announcement
Applicants and their immediate family members (spouse and minor children) are not allowed to apply for more than one housing unit in the same announcement cycle.
2. No Previous Real Estate Finance Benefits
The applicant or their family must not have previously benefited from any of the mortgage financing initiatives issued by the Central Bank of Egypt in February 2014, December 2019, or July 2021.
3. No Prior Housing Allocation
The applicant or their family must not have previously been allocated a residential unit in any form, whether through government projects or other state-sponsored initiatives.
4. No Allocation of Residential Land
Applicants must not have previously been allocated a residential plot of land, either personally or for any family member.
5. No Prior Housing Loans or Ownership
To be eligible, the applicant must not have received any prior housing loans or financial support. Additionally, neither the applicant nor their spouse should own any residential property or inherited property deemed sufficient.
6. Residency or Employment in the Same Governorate
The applicant or their spouse must be a resident of or employed within the same governorate where they are applying for a housing unit.
7. Mandatory Personal Use for 7 Years
The allocated unit must be used strictly for personal residential purposes for a minimum of seven years. No sale, rental, or transfer is allowed within this period without prior written approval.
8. Violations Will Lead to Legal Action
Violating the usage terms may result in legal consequences, including imprisonment, fines, recovery of the housing unit, and repayment of any financial support received.
9. Residential Use Only
The housing units are to be used exclusively as permanent residences. Changing the unit’s use to commercial or any other non-residential function is strictly prohibited.
10. Penalty for Misuse or Violation
In the event of a violation, the housing allocation will be canceled and the unit will be repossessed without prior notice. The units are offered through a mortgage finance system with an interest rate of 8% for low-income applicants and 12% for middle-income applicants. Down payments start from 20%, with payment terms extending up to 20 years.
11. Age Eligibility Criteria
Applicants must be at least 21 years old. The age must not exceed 50 years for low-income individuals. For middle-income applicants, eligibility is tied to not exceeding the legal retirement age.
12. Cash Purchase is Prohibited
Units must be purchased through the official mortgage finance system. Cash purchases are strictly not allowed.
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