KENYA’S AFFORDABLE HOUSING PROGRAM AIMS TO BRIDGE HOUSING GAP AND CREATE JOBS
Kenya aims to close the estimated annual shortfall of 200,000 housing units in the low-income segment while also boosting employment in construction and manufacturing sectors. Funding for the initiative is partly sourced from the Affordable Housing Fund, which is financed through a 1.5% levy on employees’ gross monthly salaries, matched by their employers.
Housing options are categorized into three income brackets: Social Housing for individuals earning up to Kshs 20,000 per month; Affordable Housing for those earning between Kshs 20,000 and Kshs 149,000; and Affordable Market Housing for earners above Kshs 150,000.
Applicants interested in securing a home can access various financing options, including subsidized mortgages and the Tenant Purchase Scheme (TPS), which allows for extended monthly payments similar to rent over up to 25 years. A minimum deposit of 10% of the unit’s price is required to qualify for allocation.