Jordanian government 'empowering people to own their homes'

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Jordanian government 'empowering people to own their homes'

07 Mar 2010

A scheme to encourage homeownership in Jordan is due to oversee the delivery of 8,000 new homes this year.

Jordan's government has announced the planned delivery of 8,000 new homes this year as part of a scheme to encourage homeownership.

The Jordan Times reported measures under the Decent Housing for Decent Living initiative will also ease borrowing restrictions in order to achieve a figure of 100,000 citizens owning new homes in the next five years.

"Empowering people to own their homes does not entail merely providing houses for citizens," said Mohammad Obeidat, the minister of public works and housing.

New measures will ensure no more than 50 per cent of a family's income goes on mortgage repayments and the payback period has been extended from 20 to 30 years.

Those seeking to buy a plot of land for development will receive a 3.5 per cent interest contribution from the government in addition to a $7,000 payment to aid the construction.

Building projects have been on hold as flash floods have hit Amman, with three-metre high rainwater washing away materials and vehicles, reports the newspaper. ADNFCR-1127-ID-19654410-ADNFCR