Prospects of Mortgage Markets in MENA Countries: An Analysis of Financial, Legal and Institutional Aspects with Emphasis on the Egyptian Case Study
This paper assesses the mortgage and housing finance market in various MENA countries, in an attempt to identify the main impediments. The approach followed involves critical analyses through reviewing the economic and political conditions for a successful mortgage finance system, as well as the legal and regulatory framework and the institutional setup. Subsequently, the paper sets out the challenges and the issues that need to be addressed in developing a well-functioning, market oriented housing finance system in emerging economies. The Egyptian case is considered in some detail as an example of a country in transition in terms of its mortgage market. It is evident that selected countries have made major strides in recent years towards the development and emergence of a new system of mortgage finance. However, there are various impediments that need to be addressed and policy implications that should be considered.
|Date of creation:||Dec 2004|
|Date of revision:||Dec 2004|
|Publication status:||Published by The Economic Research Forum (ERF)|
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