Housing finance witnesses 36pc growth

KARACHI: The State Bank of Pakistan (SBP) on Tuesday stated that housing finance has witnessed an unprecedented growth of 36pc during the 2020-2021 period.

invest with imarat

Islamabad’s emerging city centre

Learn More

According to the details, housing and construction finance has witnessed an increase of Rs54bn from June 2020 to March 2021. The portfolio in June 2020 stood at Rs148bn and increased to Rs202bn in 2021.

This marks a growth of 36pc in the first three quarters of Fiscal Year 2021 as compared to the stagnant growth in the same period last year.

As per SBP, housing finance is likely to grow in the future since mortgage finance is gaining momentum under Mera Pakistan Mera Ghar Scheme.

From April 2020, the general public has applied for housing finance for more than Rs52bn and applications of Rs15bn have been approved by various banks.

 

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

CDA Sets New Record with Rs25 Billion Development Expenditure This Fiscal Year

ISLAMABAD: The Capital Development Authority (CDA) has recorded a historic development expenditure of Rs25 billion…

7 hours ago

Islamabad Set to Inaugurate State-of-the-Art IT Park on August 14

ISLAMABAD: The federal government is set to inaugurate the Islamabad Information Technology Park on August…

2 days ago

Lahore’s Central Business District Completes PKR 9 Billion Smart Road Project

Lahore, April 23, 2025 – The city of Lahore has successfully completed the construction of…

3 days ago

Chaaye Khana Unveils First-Ever Rooftop Outlet at Amazon Mall with Panoramic Views

ISLAMABAD, Pakistan – April 23, 2025 – Chaaye Khana, Pakistan's popular cafe renowned for its…

5 days ago

PM Shehbaz Inaugurates Murree Road Underpass Project

ISLAMABAD: Prime Minister Shehbaz Sharif laid the foundation stone for the Murree Road underpass on…

5 days ago

Pakistan Emerges as Prime Investment Destination, Say Real Estate Developers at Dubai Property Show

DUBAI: Pakistani real estate developers and representatives showcased a range of commercial and residential investment…

6 days ago