Gov’t urged to lower deposits, mortgage for affordable housing units

 

Residents in informal settlements in urban areas targeted for social affordable housing upgrade are demanding opportunities not only to provide labour but also to be subcontracted to supply some inputs.

During a three-day stakeholder participation in Nairobi County the residents urged the government to lower individual units’ deposit from the 10% to 2% and increase the mortgage repayment period to accommodate their modest earnings.

They also want to supply various building materials during construction and retain a significant portion of the project cost as a form of economic empowerment.

At least 14 informal settlements in Nairobi have been earmarked for upgrade under world Bank backed Kenya Informal Settlement Improvement Programme (KISIP).

The programme seeks to increase supply of new housing to 250,000 per annum and percentage of affordable housing supply from 2 per cent to 50 per cent.

It also aims to strengthen Jua Kali industry capacity to produce high quality construction productions and increase access to safe water by 2027 through, among others, shifting focus from large dams to household/community water projects, with emphasis on harvesting and recycling.

The project further targets to Complete all roads under construction and prioritise improvement of roads infrastructure in urban informal settlement.

BY KBC NEWS