Algeria's minister of housing has implemented a new housing formula to simplify the rental market and help to address the demand for rental properties.
The announcement was made by Abdelmadjid Temmar, minister of Housing, Urban Planning and the City, over national radio. The minister said the rental market is many times a segment of the housing market that is hidden and that there is a great need to diversify the housing market so that there will be a lesser financial burden on the treasury.
The Promotional Housing Hold (LPA) has been paused since 2012 and the minister of housing said that it would be released in the coming year, equipped with new information so that there will be enough supply for the overall demand.
The construction plans in order to meet the demand will include 120,000 rental units and 80,000 housing-type subsidies as well as 70,000 housing units of the LPA category.