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Affordable housing crucial to success of Saudi mortgage law

Posted on 22 November 2012

NCB Capital expects the impact of the Saudi mortgage law to have its full effect on home ownership only after the supply of housing becomes more affordable. In a commentary Wednesday a day after the Saudi central bank issued the draft regulations of the mortgage law, Mahmood Akbar, banking research analyst at NCB Capital, said “we believe the proposed law in its current form does not tackle a key underlying problem, lack of suitable and affordable housing.
Therefore, even if the process of mortgage lending was made easier through private property institutions, middle class borrowers will find a limited supply of suitable housing.”……………………………………….Full Article: Source


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