Info on the property sector in Algeria please

[Sminette]

Are there any schemes in Algeria on the property sector where we can pay on a monthly basis until we acquire and finally own the accomodation?

The thing is I'd like to buy a flat or a house but obviously haven't got the full amount for that..so I thought placing installements will enable me to purchase a property in Algeria ..can anyone help with contact numbers or reliable Estate agencies please ?

You help is much appreciated.

Have a good day.

[Nectar77]

Are there any schemes in Algeria on the property sector where we can pay on a monthly basis until we acquire and finally own the accomodation?

The thing is I'd like to buy a flat or a house but obviously haven't got the full amount for that..so I thought placing installements will enable me to purchase a property in Algeria ..can anyone help with contact numbers or reliable Estate agencies please ?

You help is much appreciated.

Have a good day.

Hi Sminette, what I know is that if you are working in Algeria and have a permanent position, then all you need is a deposit (not sure about the percentage) and you can get a mortgage from any bank there, Cnep Banque are good, very expensive though, intrests are very high...

Or try El- Baraka bank...they have a website : http://www.albaraka-bank.com/

Hope this helps...

[FORTUNATO]

Are there any schemes in Algeria on the property sector where we can pay on a monthly basis until we acquire and finally own the accomodation?

The thing is I'd like to buy a flat or a house but obviously haven't got the full amount for that..so I thought placing installements will enable me to purchase a property in Algeria ..can anyone help with contact numbers or reliable Estate agencies please ?

You help is much appreciated.

Have a good day.

You may ask here

http://www.cnepbanque.dz/

Ciao

[Sminette]

Thanks guys for the tip . I will look into it and hopefully come out with something positive!
Have a good day and once again Thanks
Smina

[Khokom]

The banking system in Algeria is one of the worst in the world. There is no transparancy whatsoever,... full of corruption, no ethics, no professionalism,..money laundry,...old computer systems,.. and dont be surprised if some of your money went missing...etc etc.

This is exactly why foreign investors think more than twice before investing their money in Algeria. Our neighbours are doing much MUCH better than us.

This is also why we dont have a central real estate market,.. we dont have a stock market,..we dont have any market. The centre of the economy is the banking system, if its in a mess, the whole country is in a mess.

Example:

I just entered el Baraka bank's website, apparently this is one of the big banks in Algeria.

Clicked the English version: Site under construction
Clicked the Arabic version: Site under construction (its a bloody arab country)

Heres the best bit, when was the site last updated? "Dernière modification: 03/10/2003."

I rest my case.

Khokom.

[phylay]

I remember last time I wanted to withdraw a few thousand dinars from my CNEP account. I had to come with an aquaintance CNEP agent of mine so that the agent fel guichet accepted to give me MY money!

When it is a devise account, haddith wa la haraj...
I just clicked on the e-banking button on the CNEP site and my browser crashed

[pandora]

I remember last time I wanted to withdraw a few thousand dinars from my CNEP account. I had to come with an aquaintance CNEP agent of mine so that the agent fel guichet accepted to give me MY money!

When it is a devise account, haddith wa la haraj...
I just clicked on the e-banking button on the CNEP site and my browser crashed

I know that many people complain about this, and knowing somone who works in a bank always helps. In Algeria, it is almost imopssible to get things done if you do not know someone who knows someone...