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Affordable Housing

How Ksh200 Could Earn You a Home in Affordable Housing Project

Owning a home in Kenya is expensive, hence one of President Uhuru Kenyatta’s Big four agenda that seeks to offer affordable housing that seeks to address the needs of citizens in different income brackets.

Kenyans willing to be part of the Affordable Housing Programme(AHP) can now begin contributing Ksh200 monthly towards owning homes.

Speaking to newsmen in Kenya  on Wednesday, Housing and Urban Development Principal Secretary Charles Hinga, highlighted that more than 225,000 Kenyans have registered to participate in the AHP. “Operationalisation of the voluntary contributions is a significant milestone in the implementation of AHP to interested Kenyans, we are now giving the ability and means to decide how and when they will start their journey towards owning a house,” confirmed the PS. “They can do this by regularly saving in then bomayangu wallet, the amounts that they can afford,” he added.

According to Hinga, the above activation was in response to Kenyans who have been registering on the boma yangu web platform, interested to be part of AHP and subsequently own decent and affordable homes.

He said the process of allocating 228 houses on Park Road in Nairobi will kick off soon. The houses are set for occupation by September this year.

The houses are suitable for individuals in the social bracket earning below Ksh 19,999, the low cost covering Ksh 20,000 to Ksh 49,999, the mortgage gap for those earning between Ksh 50,000 and Ksh 149,999 as well as middle to the high-income bracket of Ksh 150,000 and above.

The houses are to be provided at lower interest rates of between three percent, five and seven percent for social housing, low cost and mortgage gap segments respectively.

READ MORE:  The Past, Present & Future of Affordable Housing in Africa

Savings for the houses can be made through various payment modes that will be convenient for the contributers, such as www.bomayangu.co.ke where one will need to log in and pay via M-Pesa, card payment or bank transfer.

Another option will be through the Huduma Life mobile App that can be downloaded from google playstore or accessed through www.hudumakenya.go.ke

Source: Kenyans.co.ke

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