The Clap
The Financial Regulatory Authority (FRA) made changes to real estate financing laws to make it easier for individuals to obtain financing.
What
The changes include increasing the cap for the monthly financing installment from 35-40% of income to 50% of income.
So what
This means that individuals will be able to finance a larger amount of real estate with their income and may be more likely to be approved for financing.
Now what
The changes were made with the goal of increasing the number of people who can benefit from real estate financing, especially in the current economic climate where both inflation & real estate prices are high.
