SPEED ROUND: REAL ESTATE

Subsidized 30-year mortgages are now a thing for low- and middle-income earners

The Central Bank of Egypt (CBE) launched today an EGP 100 bn mortgage financeinitiative for low- and middle-income earners, offering 30-year finance at a subsidized rate of 3% to qualifying borrowers, according to a CBE statement (pdf). The program will only finance fully-finished homes, and so isn’t designed to support off-plan construction (the form that…