Real-estate declines by 60 percent in Algeria

The turnover of the real estate market in Algeria fell by 60 percent in the past few months while home buying and selling market entered recession, according to a real-estate professional.

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• “The demand for rental houses has dropped by 40 percent,” said former president of the National Federation of Real-Estate Agencies M. Aoudia.
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• He told Echorouk real-estate properties would fell by 30 percent in the next three months.
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• Aoudia believes the subprime crisis had a positive impact on the Algerian real-estate market because the lack of liquidity would surely lead to the real prices of the real-estate.