Lahore: In July 2023, bank loans intended to finance housing construction loans projects showed a 4.8 percent yearly growth rate.

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According to State Bank of Pakistan (SBP) data, banks gave individuals loans of Rs211 billion for home development projects in July 2023. Comparing this amount to July 2022, a rise of 4.8% can be seen.

According to the information, clients were given construction loans of Rs201 billion in July 2022 to construct homes. In addition, the disbursement of loans for housing projects declined marginally by 0.6 percent in July compared to the prior month.

According to the data, banks provided loans for house development projects totaling Rs212 billion in June. This amount slightly decreased to Rs211 billion in July.

The total amount of loans provided by banks to the private sector for July totaled a sizeable Rs799.8 billion. It also deserves special emphasis.