Housing Deficit to Record 555,150 Apartments in the Next Year

The deficit expected in the number of apartments for the fiscal year (2013-2014) will reach 554,150 apartments, including 279,618 special apartments in urban areas and 274541 in rural areas.

Al Ahram said on Sunday that the report stated that this deficit should be covered by the Ministry through establishing 200 thousands apartments in the social housing project with a percentage of 36.1%, while the private sector will be responsible for building 159 apartments or 63.9% of the project.

The report added that the number of available apartments on the level of the Republic has reached 5,729,414, including 3,428,111 apartments in urban areas, representing 28.3 % of the total number.

Concerning the number of existing apartments in rural areas, it recorded 2,301,303, representing 19.8% of the total number of apartments, which is considered an increase over the internationally recognized percentages.  The report added that the imbalance in supply and demand has caused this deficit in 9 apartments for the low-income group, which has resulted in random building.