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| The proposed regulation is expected to dramatically boost the supply of housing for low and medium income citizens. |
The move is expected to provide low and average-income citizens with more opportunity to buy homes.
The proposed regulation stipulates that a small apartment should be defined as measuring between 45 and 70 square metres while an average-sized apartment would cover from 70-90 square metres.
All apartments must meet the required standards for a self-contained flat.
The intended regulation also requires that real estate investors should have sufficient financial competence to meet at least 30% of the project’s total investment.
