State pushes for affordable housing

By Allan Olingo

NAIROBI, KENYA: Housing assistant minister Margaret Wanjiru has challenged mortgage providers and financial institutions to provide appropriate and affordable mortgage services to low-income earners.

Wanjiru who was speaking during the official opening ceremony of the 16th Kenya Homes expo held last week, also revealed that the Government has plans to bring down the old houses in Kaloleni, Jericho and Starehe. These estates will be demolished to pave way for residential flats that will ease the housing crisis the city is currently grappling with.

 “I am glad to announce that now we have pumped in more resources to be able to refurbish and renovate Government housing and those that cannot be renovated will be brought down so that the Government can build new ones,” said Wanjiru.

The assistant minister further urged developers to create housing for the lower and middle income earners, noting that the previous year, having urged developers to focus on that market, she had noticed an increase in the number of developers targeting this group, to her delight.

“The Government is committed in ensuring that Kenyans have decent and affordable housing and developers should also have the low and middle income earners at heart,” she said.

Speaking at the same event, Architectural Association of Kenya chairman Stephen Oundo said that they would publish a policy position paper on development control in Kenya in the coming weeks.

New dawn

“We are optimistic that the new structures and institutions including the National Lands Commission and the National Construction Authority will add an impetus to the sector and promote housing for the whole sector,” said Oundo.

Daniel Ojijo, the chairman of Mentor Group, the expo organiser’s parent company, noted that the current startling performance at the top end of the housing market is interesting

“Most of you will agree with me that the residential property investment opportunities in Kenya exist for the smaller personal investor, while the commercial real estate opportunities are mostly controlled by the larger or corporate investors looking for emerging market with long-term sustained opportunity for growth and profit,” said Ojijo.