New Study Reveals Housing Loan Costs Rose Sixfold More Than Official Figures

A new study by the "Tavav" center indicates that the actual increase in the cost of "Mashkanta" housing loans in 2023 was six times greater than reflected in official consumer price index figures. The research suggests that while the consumer price index is meant to mirror the rising cost of living, it does not fully capture the reality for many.

Manar Naffa Omriyeh, an economic expert and housing loan consultant, discussed the findings, highlighting the discrepancy between official statistics from the Central Bureau of Statistics and the actual financial burden on borrowers. The study's findings point to a significant underestimation of the impact of inflation on housing loan expenses.

The research implies that the rising cost of "Mashkanta" loans has a more substantial effect on borrowers' finances and the broader economy than officially reported. Omriyeh's insights emphasize the need for a more accurate reflection of these costs to understand their true economic impact.