{"id":85381,"date":"2022-04-15T15:02:12","date_gmt":"2022-04-15T10:02:12","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=85381"},"modified":"2022-04-15T15:26:04","modified_gmt":"2022-04-15T10:26:04","slug":"low-cost-housing-banks-loan-in-fy-22","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/low-cost-housing-banks-loan-in-fy-22.html","title":{"rendered":"Low-cost housing loan: Banks double loan output, reaching PKR 404 bn in FY-22"},"content":{"rendered":"\n<p>Karachi: A State Bank of Pakistan (SBP) report revealed that the overall bank financing to the housing and construction sector has almost doubled to PKR 404 billion in the first quarter of the calendar year (CY) 2022, as compared to PKR 204 billion recorded last year, according to news sources.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/dib-pmrc-mortgage-housing-finance.html\" data-type=\"post\" data-id=\"85038\" target=\"_blank\" rel=\"noreferrer noopener\">DIB, PMRC sign agreement for promoting mortgaging, housing finance<\/a><\/p>\n\n\n\n<p>\u00a0\u201cIn increasing their housing and construction finance, banks have also achieved the first quarter target of PKR 405 billion for 2022,\u201d said the SBP.\u00a0<\/p>\n\n\n\n<p>According to the data, banks received applications for housing loans totalling PKR 409 billion till April 11, which represents over a<a href=\"https:\/\/www.zameen.com\/news\/sbp-housing-loan-in-february.html\" data-type=\"post\" data-id=\"84900\" target=\"_blank\" rel=\"noreferrer noopener\"> sevenfold increase from the sum of PKR 57 billion <\/a>reported the previous year. In response to these approvals, the banks accepted applications totalling PKR 180 billion and disbursed PKR 66 billion.\u00a0<\/p>\n\n\n\n<p>This is a more than 11-fold increase in application approvals over a year ago. In April 2021, banks only authorized PKR 16 billion in loans. \u00a0 It is worth noting that, according to 2017\u2019s housing and population census statistics, Pakistan needs 350,000 housing units each year, but only 150,000 are available. As a result, the country is experiencing a housing crisis. The government has launched a number of measures to encourage banks to provide mortgages as part of the Naya Pakistan Housing Project (NPHP) and Mera Pakistan Mera Ghar (MPMG) low-cost housing programmes.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong><a href=\"https:\/\/www.zameen.com\/news\/punjab-forms-rules-to-facilitate-low-cost-housing-schemes.html\" data-type=\"post\" data-id=\"71938\" target=\"_blank\" rel=\"noreferrer noopener\">Punjab approves NPHP Ordinance 2020; forms rules to facilitate low cost housing schemes<\/a><\/p>\n\n\n\n<p>Both programmes are intended to encourage low-income households to build and own homes. The government has set a modest markup for the houses, which is spread over a 20-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: A State Bank of Pakistan (SBP) report revealed that the overall bank financing to the housing and construction sector has almost doubled to PKR 404 billion in the first quarter of the calendar year (CY) 2022, as compared to PKR 204 billion recorded last year, according to news sources.\u00a0 Read: DIB, PMRC sign agreement for promoting mortgaging, housing finance \u00a0\u201cIn increasing their housing and construction finance, banks have also achieved the first quarter target of PKR 405 billion for 2022,\u201d said the SBP.\u00a0 According to the data, banks received applications for housing loans totalling PKR 409 billion till April 11, which represents over a sevenfold increase from the sum of PKR 57 billion reported the previous year. In response to these approvals, the banks accepted applications totalling PKR 180 billion and disbursed PKR 66 billion.\u00a0 This is a more than 11-fold increase in application approvals over a year ago. In April 2021, banks only authorized PKR 16 billion in loans. \u00a0 It is worth noting that, according to 2017\u2019s housing and population census statistics, Pakistan needs 350,000 housing units each year, but only 150,000 are available. As a result, the country is experiencing a housing crisis. The government has&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[51980,35449,51978],"persona":[],"class_list":{"0":"post-85381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"tag-housing-loan-mrthgaging","9":"tag-housing-loan-subisdy","10":"tag-low-cost-housing-loan-banks-double-loan-output","11":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Low-cost housing loans: Banks double loan output in FY-22- Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: A State Bank of Pakistan (SBP) report revealed that the overall bank financing to the housing and construction sector has almost doubled to PKR\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/low-cost-housing-banks-loan-in-fy-22.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Low-cost housing loans: Banks double loan output in FY-22- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: A State Bank of Pakistan (SBP) report revealed that the overall bank financing to the housing and construction sector has almost doubled to PKR\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/low-cost-housing-banks-loan-in-fy-22.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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