90% families pay ‘low instalments for homes’ in Bahrain

90% families pay ‘low instalments for homes’ in Bahrain

Up to 90 per cent of Bahraini families pay subsidised instalments for government social homes.The Cabinet told MPs in a written explanation to proposed amendments to the 1976 Housing Law for interest-free services that between 10pc and 15pc of beneficiaries pay the full amount of the housing unit.However, between 85pc and 90pc don’t cover the actual market price tag of the home provided by the Housing and Urban Planning Ministry.

The government is urging new MPs who will be in their seats in Parliament by the end of the year to throw out the amendments.The current MPs also want the government to drop the 3pc administrative charge taken when families apply for the service.“Up to 90pc of families, actually between 85pc to 90pc, don’t pay the actual cost of the unit with us setting monthly instalments not exceeding 25pc of the monthly income,” said the Cabinet.“So only 10pc to 15pc of the families pay the full cost, depending on exceptional agreements that include higher guarantees or insurance,” it added.

“The 3pc administrative fees that MPs want to drop is less than the real cost of paperwork that is between 4.5pc and 7pc of the value of the property given out.“The fee is