There is a significant housing deficit in urban areas where more than 60 percent of urban dwellers live in low-quality housing. This is attributed to rapid urbanization rate, where the supply of housing not being able to catch up with the increasing demand.
In addition, the cost of housing is relatively high, making it difficult for low and middle-income earners to access decent housing.
This high cost is partly due to the limited supply of affordable land in urban areas, the cost of construction materials, and limited affordable financing options for prospective homeowners.
Addressing the housing challenge requires a multifaceted approach, including partnership, collaboration, and private-sector investments.
Read: Government Targets SACCOs to Grow Affordable Housing Uptake
The ongoing Affordable Housing Program, which brings together several partners spearheaded by the Government, is a step in the right direction.
The National Housing Corporation (NHC), established specifically to provide affordable housing to Kenyans, has a critical role to play and will therefore need to be strengthened.
Tackling the demand for housing results in other multiplier effects, growth in the industry that manufactures building materials and employment creation, because one construction site will require artisans such as masons, plumbers, painters, and electricians among others.
Other than the ongoing initiatives, several strategies have been adopted to encourage growth in the housing sector and lead to most Kenyans having access to affordable housing.
One such scheme includes the formation of a housing collective where individuals or groups come together, pool resources, and invest in their housing.
There already exist many SACCOs which focus on short-term loans. In that case, a collaborative society scheme would focus on long-term financing and can team up with a financial institution or any other organization whose mission is providing affordable housing solutions and supporting community-led initiatives that address the housing challenge.
The housing collaborations could also be engines for promoting low-cost sustainable housing by supporting the adoption of environmentally friendly materials and green building techniques.
Email your news TIPS to editor@thesharpdaily.com
