BD199 monthly instalments offer awaits eligible Bahraini homeowners

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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Homebuyers will benefit from fixed house prices and capped monthly instalments at BD199, with the added advantage of choosing their home through an online draw.

The Ministry of Housing and Urban Planning said the price of housing units will remain the same across the kingdom, with a top monthly payment of BD199, regardless of the buyer’s earnings.

In a note to the Council of Representatives, the government explained that “payments for housing units will not exceed 25 per cent of the buyer’s wages over 300 months.”

Banks are required to ensure “deductions stay below this threshold or the agreed fixed amount, whichever is lower.” In response to a parliamentary proposal, the government noted that housing allocations are based on availability.

When a new project begins,- creceive a certificate showing the area allocated to them. If they wish to change it, they can request an amendment, which will be considered if other options are available.

If not, housing will be offered in the nearest available development.

The government added that citizens will choose their housing units through an online system, with three options displayed on a screen.

A project engineer will explain the features of each, giving citizens time to select their preferred home.

The government emphasised that “there is no direct interference in the process.” The government also reiterated its aim to provide a range of housing services that “meet the needs of citizens.”

These include ownership of houses, flats, and plots, as well as financing options through the “Tas’heel” and “Mazaya” schemes.