In the experience of majority of sub-Saharan Africa countries, “Affordable Housing” appears to be carpet for real estate development companies to stride into the general property market and then on towards the high end of the market. As it seems, appears doomed as a brisk bridge that is easily burned without any consequences by its users – the private sector development companies.
It is hard to see a REDC that stays within any defined confines of affordable housing for more than the first five years of its operations.
Really quite sad!
Yes, this is a phenomenon worth examining. Little wonder why the problem of home ownership appears to be surmounting year on year. Without minding the unavailability of data, it can be evidently surmised that as the years go by and population increases in the SSA countries, so has their respective housing deficits increased.
In the year 2000, housing deficits of counties with available data totals – 30,000,000. By the year 2023, the number has increased to 50,000,000 for the same number of countries.
First what really are the causes of this? Are they systemic issues or the usual human capitalist tendencies?
Secondly, is there anything that can be done to stem this tide?
These are the key questions, along with some others, that require to be examined.
Stay with us on this informative expose.
