Housing Ministry takes steps to curb unjustified rent hikes

Author: 
Taif: Arab News
Publication Date: 
Sun, 2012-03-04 02:40

It said international experts were currently drafting a blueprint of the system aimed at putting an end to the unjustified rise in rents and to organize the relationship between tenets and landlords.
According to the source, the new system would include giving subsidies to the investors planning to build housing units for low-income citizens. He said the ministry would issue rent bonds, which would enable government employees to search for accommodation that would suit their income.
Under the system, the government departments would give their employees certificates that would assure the landlord that the family had sufficient income to pay the rent. The government would also pay part of the rent as an incentive to employees.
The source said the subsidies provided by the government departments might also include soft loans, mortgage loans and loan insurances.

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