Innovative ways Kenyan youth are using to solve housing problems - 3 weeks ago, 06:25
Even with the government stepping in to address the country’s housing woes, experts in the real estate sector continue to argue that it will take everyone’s efforts, young and old, to put the problem behind us.
A recent World Bank report states that out of an annual demand of 250,000 housing units, developers can only put up 50,000. More worrying is that 49,000 of these units go to upper-middle and high-end segments of the market, leaving the low-income group seriously under-supplied, with only 1,000 units to share.
For a long time, real estate, and especially the housing sector, has been made to appear like a preserve for pensioners, businesspeople looking to secure their futures or technocrats with money to spare. This, even as the urban population grew by more than four per cent per year, further straining demand for accommodation.
In a sector that has appeared like a no-go zone for ...
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