The supply of 160,000 housing units is one of numerous initiatives the Algerian government has announced to address the country’s housing shortage. The state continues to address construction-related issues in order to provide citizens with decent housing, according to the Algerian News Agency, by adopting a number of formulas that take into account the various social characteristics of Algerian families and maintain the social character of the nation.

In implementation of the 2022 agenda, and in parallel with the celebration of the 60th anniversary of independence, the delivery of 160,000 housing units of various formats in various regions has begun. Workshops have also been scheduled to establish the National Housing Bank and the National Real Estate Agency and to update the reconstruction law on 1 November.

The head of the National Federation of Real Estate Agencies, Noureddine Manasiri, had confirmed to Al-Araby Al-Jadeed in previous statements that “the era of crazy prices for real estate in Algeria has ended, after the crisis in the market.”

“The year 2022 will be life or death, after two years that were characterised by a decline in buying and selling, except for the renewal of some lease contracts, without forgetting that 2019 was also very difficult because it coincided with the period of the popular movement. So, we are talking about three years of real estate stagnation, which is a true real estate bubble.”

After the election of Abdelmadjid Tebboune as president in late 2019, he announced an ambitious programme of one million housing units in various formats, 60 per cent of which are dedicated to rural housing, in order to guarantee the right to housing and achieve balance between the various regions of the country. However, real estate experts confirmed that the housing crisis is still ongoing for several reasons, including the high prices of building materials, and the weak purchasing power of citizens.

Source: middleeastmonitor