Belaribi: The draft amendment law for real estate promotion will take into account the regulation of the rental market in Algeria – Algerian Dialogue

The Minister of Housing, Urbanism and the City, Mohamed Tarek Belaribi, confirmed today, Thursday in Algiers, that the draft amending law for real estate promotion, under study at the level of the General Secretariat of the government, will take into account the concern related to organizing and upgrading the rental market in Algeria.
In a session to answer oral questions in the National Assembly, the Minister explained that the draft new housing policy would direct and accompany real estate developers to invest in the field of rental housing through the draft real estate promotion amendment law.
The Minister also explained regarding the housing rental issue, as one of the alternatives that is strongly presenting itself to alleviate the severity of housing demands, that “the problem at hand can only be addressed in a comprehensive and broad perspective,” noting that the draft new housing policy would embody many of the stages associated with ensuring access to housing. On housing, not necessarily through ownership, while maintaining the principle of obtaining adequate housing as an absolute priority, in implementation of the twenty-eighth pledge of the President of the Republic.
In this aspect, the promotion of private real estate for rent is encouraged, with tax incentives for the benefit of those who upgrade, the principle of not giving up housing is established, and movement from one residence to another is encouraged according to the family’s monthly income, in addition to encouraging and upgrading the rental market and protecting landlords through legislation in order to display unoccupied housing. For rent.
The Minister stated that the residential area currently consists mainly of public rental housing, which the public treasury fully guarantees its financing, with a number of 1 million and 538 thousand units, and housing through rental sales supported by the state, with a number exceeding 811 thousand housing units.
During the period extending from 2020-2024, one million and 246 thousand units were delivered, including more than 404 thousand units of public rental housing and more than 427 thousand units through rental sales, representing 67 percent of the Muslim area, says Mr. Belaribi, considering that these achievements had a positive impact. on rental prices at the national level and contributed significantly to controlling the rental market.