Algeria raises AADl 2001-2002 monthly payment

The government made changes to AADL housing program payment terms. Total payment duration will be reduced to 20 years from 25 years. This means that monthly payment will be raised.

The government approved a modified and completed executive decree No 105-01 after hearing the housing minister Abdelmadjid Teboune’s presentation. He said the legislative text was revised as part of supervising the revision of houses price. This aims at optimizing expenses.

Earlier, the minister said the price may be raised by 30 percent. This comes with changing factors in real-estate and construction materials market.

The executive decree also stipulates to reduce purchasing duration for AADL houses 2001-2002 to 20 years from 25 years.