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On another side, M. Boufatit pointed out that new measures have been taken in the framework of rent-to-own development projects since the sector adopted 65 000 housing units programme and embarked on the realization of 7000 units. « The state has taken new measures and kept on free-allocating patches of land and take in charge development projects in addition to extending payment deadlines from 25 to 30 years as well as diminishing of the personal contribution of beneficiaries to 10% instead of 25% ». Boufatit also enumerated problems hindering developers activity and realization companies namely real estate scarcity, contract settling slowness as well as construction licences. As for square metre prices, Boufatit made clear that the threshold price in the concession of a rent-to-own house is estimated at 28 000 AD, which is not enough as « we are always bound to negotiate in order to come up to an average of 24500 AD a square metre with companies acting in construction field, but we notice that the latter work with the average of 26000 to 29000 AD a square metre». On another side, the prime minister has signed, following state shareholdings and investment promotion minister report, an executive decree 119-07, providing for the creation of a national agency of mediation and real estate matters settlement so as to accompany privatization programmes. The decree also provides for the settlement of real estate surplus in state-owned companies before to be privatized. | ||||||||||||||||||
Main obstacles to real estate sector are: Real estate scarcity,