A Suggested Mortgage System Model for Egypt

Amr Hassanein and Mohamed El-Barkouky

Journal of Real Estate Literature, 2009, vol. 17, issue 2, 249-272

Abstract: This research aimed at outlining a proper mortgage practice system in Egypt. The institutional and regulatory structures of two mortgage systems, the U.S. and the Malaysian, were examined through an extensive literature survey. Data on the current Egyptian mortgage practice was compared to both practices. The results identified several limitations in Egyptian mortgage practice: inefficient procedures of property registration; absence of an efficient mortgage secondary market; relatively high mortgage lending rate; non existence of various types of mortgage instruments; and lack of credit enhancement tools. Several recommendations are offered for improving the existing Egyptian mortgage practice: realizing a proper secondary market, establishing efficient credit enhancement tools, and lowering the mortgage lending rate.

Date: 2009
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DOI: 10.1080/10835547.2009.12090258

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