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HomeReal EstateThe State To Undertake Decent, Affordable Housing Project.

The State To Undertake Decent, Affordable Housing Project.

Access to affordable housing and adequate infrastructure continue to be key issues facing the country, and mainly in Nairobi to sustain the increasing urban population that is growing at 4.4% compared to world urbanization rate at 2.1%, according to World Bank data.

This highlights the need for more efforts by both the public and the private sector towards provision of affordable housing and infrastructure in order to achieve the 2030 goals. Already, we are seeing works towards this,with;

i) the affordable housing initiative by the Kenyan Government under the Big 4 Agenda.

ii) the Kenyan Government’s dedication to improving the state of infrastructure in Kenya, especially in transport, as part of its efforts to elevate the country to upper middle-class status by 2030.

Housing Principal Secretary Charles Hinga says the houses will be constructed between 2019 and 2022 at a total cost of Sh1.3 trillion under the affordable housing pillar of President Uhuru’s big four agenda.

Some of the criteria to be used in allocation of the units include size of the income, family size, preferred location of home and current assets owned.

The houses will be spread out across the 47 counties and will be set up on both national and county government land.

Individuals seeking to finance their own home mortgages will be allocated 300,000 units in the proposed housing programme by the state.

The government aims to build one million homes by 2022 through two programmes – social housing and affordable housing. Low-cost housing is one of President Uhuru Kenyatta’s Big Four legacy agenda.

The government will work in partnership with financial institutions, private developers, manufacturers of building materials and cooperatives to deliver homes faster and reduce the cost of construction by at least 50 per cent.

Once completed, one-bedroom unit under the social housing programme will sell for ksh 800,000, while a three-bedroom unit will go for ksh 3 million for a three-bedroom unit.

 

 

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