Kenyan housing sector boasts 'huge growth potential'

19/01/2011 - Kenya property & investment news Posted by Bob Brunskill
Kenyan housing sector boasts 'huge growth potential'

Numerous African nations, including Kenya, now offer huge potential for growth in the housing sector, it has been claimed.

Alassane Ba, managing director of housing group Shelter Afrique, noted that Africa's middle-class is growing in the wake of commodity booms, real estate growth, IT advancements and financial sector reforms over the last decade.

Writing for the African Business Daily, he said that this rise of the middle-class was proving to be a key driver of housing sector demand and growth.

"Middle-class is an aspiration and an economic reality in many African countries," said Mr Ba.

"One of its attributes is the ability to own or rent a house which is the most important economic and social asset."

Pointing to the need for housing policy reforms to remove various financial and planning constraints, Mr Ba said Kenya was among the few countries in the Sub Saharan region to have made progress in this area.

Indeed, he commended the role of financial institutions like Housing Finance in Kenya in boosting construction and mortgage financing, noting that Kenya's mortgage loans-to-GDP ratio is the best in Sub Saharan Africa.ADNFCR-2019-ID-800350666-ADNFCR