Real Estate : 90% of Algerians opt for rented accomodation

According to the chairman of the real-estate agencies Federation, Abdelhakim Aouidat, around 90 per cent of Algerians have opted for the past years for rented accommodation instead of deciding to purchase a flat owing to the skyrocketing prices now in force on the real estate market.

• Mr Aouidat told Echorouk that only 10 % of seemingly well-to-do Algerians were interested in purchasing a housing unit with the help of real estate agencies while all the others made up mostly of civil servants and young couples, wanting to live by themselves, flock to the real estate agencies looking for rented accommodation.
• He also pointed out that owing to certain recorded irregularities, the real estate market should be cleansed and better regulated by the relevant authorities.
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• Mr Aouidat underlined, in this connection, the imperious necessity for the real estate managers and the customers alike to have their package deal duly registered in a notary’s office in the presence of the two contracting sides in order to avert any mishap or misunderstanding.