Halkalı Halı Yıkama Beylikdüzü Halı Yıkama Bahçeşehir Halı Yıkama seocu

Developer advises govt on low-cost housing

The Chief Executive Officer, UT Homes, Mr Ade Adebajo, has asked government to focus more attention on providing affordable and low-cost housing for all Nigerians.

He lamented that many Nigerians were suffering from lack of affordable housing in the country and urged the government to come to the rescue of its citizens.

Click here to watch weekly episodes of Housing Development Programme on AIT

At the foundation laying/ground breaking ceremony of the construction of 10 units of luxury and affordable bungalows named Campagne De-Maison, by the company in Mowe, Ogun State, Adebajo said private investors had important roles to play in ensuring affordable housing remained available to all Nigerians.

He stated that the public could take advantage of initiatives by investors in the private sector such as the low-cost housing which the company was embarking upon.

He said, “Many Nigerians are still tenants because they cannot afford to own a house. Government should do more to provide cheap and affordable houses for Nigerians as well as provide enabling environment for private investors to thrive. This is the reason UT Homes has embarked on a project of building affordable standard homes for middle and low- income earners.

“The project, a fully furnished gated community, is the first phase of what we are doing and it will be sold within the community. We are targeting middle and low-income earners. We also have provision for mortgages for those who cannot pay once. There is assured security with good sewage system, constant water with excellent finishing. If we go by our projection, the first set of people will move in within the next nine months.”

Adebajo urged Nigerians to take advantage of the opportunity offered by the new development and buy into the project, adding that the government alone would not be able to meet the housing needs of the people.

“It is our own little way of assisting the government. Many of the buildings are already sold out. This is a small development, we are going to do larger one,” he stated.

The company’s Project Manager, Mr Michael Olaiya, said the project would offer the Nigerian public the best in housing revolution.

Source: Maureen Ihua-Maduenyi

home

Affordable Housing in Africa

Rapid urbanization is pushing up demand for housing in Sub-Saharan Africa.

African cities become the new home to over 40,000 people every day, many of whom find themselves without a roof over their heads.

With that in mind, IFC has committed to do more to develop the property sector, both to provide new and affordable housing and to encourage an industry that requires significant building materials and has the potential to be a major employer.

In May, IFC and Chinese multinational construction and engineering company, CITIC Construction launched a $300 million investment platform, CITICC (Africa) Holding Limited, to develop affordable housing in multiple African countries.

African cities become the new home to over 40,000 people every day, many of whom find themselves without a roof over their heads. With that in mind, IFC has committed to do more to develop the property sector, both to provide new and affordable housing and to encourage an industry that requires significant building materials and has the potential to be a major employer. In May, IFC and Chinese multinational construction and engineering company, CITIC Construction launched a $300 million investment platform, CITICC (Africa) Holding Limited, to develop affordable housing in multiple African countries. The platform will partner with local housing developers and provide long-term capital to develop 30,000 homes over next five years. IFC estimates that each housing unit will create five full-time jobs – resulting in nearly 150,000 new jobs on the continent. Kenya and Nigeria are high on the priority list for the new effort. Kenya’s housing shortage is estimated at 2 million units, while Nigeria is in want of 17 million units. The soaring demand is being met by scant new supply. Africa’s housing market has few local developers with the technical and financial strength to construct large-scale projects. The IFC-CITIC Construction platform will work with local housing companies to develop affordable housing projects across Sub-Saharan Africa, each ranging in size from 2,000 to 8,000 units. CITIC Construction has a proven track record in constructing and delivering large scale housing projects. The platform will start by developing homes in Kenya, Rwanda and Nigeria, expanding to other countries as operations ramp up. “In Angola, through planning, financing, construction and post-construction operation, CITIC Construction has successfully completed the 200,000 units housing program, new city of Kilamba Kiaxi, with relative infrastructure and utilities in four years. CITIC Construction has also founded the CITIC BN Vocational School in Angola which helps youth acquire the skills they need to become professionals”, said Hong Bo, Assistant President of CITIC Group and Chairwoman of CITIC Construction, “CITIC Construction will take advantage of our engineering experience and delivery capability to develop more affordable houses for Africa through the platform with IFC.” “As Sub-Saharan Africa become more urbanized, the private sector can help governments meet the critical need for housing”, said Oumar Seydi, IFC Director for Eastern and Southern Africa. “The platform will help transform Africa’s housing markets by providing high quality, affordable homes, creating jobs, and demonstrating the viability of the sector to local developers. IFC will work with financial institutions to support mortgages and housing finance that will allow people to purchase the units.” The new housing units will be constructed in accordance to IFC’s green building standards, delivering homes that are environmentally friendly and sustainable. The World Bank Group estimates that by 2030, three billion people, or 40 percent of the world’s population will need new housing units. To date, IFC has invested more than $3 billion in housing finance in over 46 countries world-wide. IFC focuses on regions where large portions of the population live in sub-standard housing and have limited access to credit to build, expand, or renovate their homes.

The platform will partner with local housing developers and provide long-term capital to develop 30,000 homes over next five years. IFC estimates that each housing unit will create five full-time jobs – resulting in nearly 150,000 new jobs on the continent.

Kenya and Nigeria are high on the priority list for the new effort. Kenya’s housing shortage is estimated at 2 million units, while Nigeria is in want of 17 million units. The soaring demand is being met by scant new supply. Africa’s housing market has few local developers with the technical and financial strength to construct large-scale projects.

The IFC-CITIC Construction platform will work with local housing companies to develop affordable housing projects across Sub-Saharan Africa, each ranging in size from 2,000 to 8,000 units.

CITIC Construction has a proven track record in constructing and delivering large scale housing projects. The platform will start by developing homes in Kenya, Rwanda and Nigeria, expanding to other countries as operations ramp up.

“In Angola, through planning, financing, construction and post-construction operation, CITIC Construction has successfully completed the 200,000 units housing program, new city of Kilamba Kiaxi, with relative infrastructure and utilities in four years.

CITIC Construction has also founded the CITIC BN Vocational School in Angola which helps youth acquire the skills they need to become professionals”, said Hong Bo, Assistant President of CITIC Group and Chairwoman of CITIC Construction, “CITIC Construction will take advantage of our engineering experience and delivery capability to develop more affordable houses for Africa through the platform with IFC.”

“As Sub-Saharan Africa become more urbanized, the private sector can help governments meet the critical need for housing”, said Oumar Seydi, IFC Director for Eastern and Southern Africa.

“The platform will help transform Africa’s housing markets by providing high quality, affordable homes, creating jobs, and demonstrating the viability of the sector to local developers.

IFC will work with financial institutions to support mortgages and housing finance that will allow people to purchase the units.”

indexg

The new housing units will be constructed in accordance to IFC’s green building standards, delivering homes that are environmentally friendly and sustainable.

The World Bank Group estimates that by 2030, three billion people, or 40 percent of the world’s population will need new housing units.

To date, IFC has invested more than $3 billion in housing finance in over 46 countries world-wide.

IFC focuses on regions where large portions of the population live in sub-standard housing and have limited access to credit to build, expand, or renovate their homes.

 

Source: ifc.org

Focus on solving housing shortage –Adebajo advises govt

The Chief Executive Officer, UT Homes and Financial Services, Mr. Ade Adebajo, has advised the government of the federation to focus on solving problems related to housing shortage in the country.

Adebayo said government should focus more attention on providing affordable housing for all Nigerians adding that a situation where more houses meant for the rich are lying idle while million of Nigerians are out there sleeping under the bridge is not acceptable.

The UK trained financial expert lamented that many Nigerians are suffering from lack of quality accommodation, stressing that private investors have important roles to play in ensuring affordable housing is available to all Nigerians.

According to him, although, housing for all is one of the policies of the present administration, its realisation has remained a major task despite efforts by the Minister of Power, Works and Housing Minister, Mr. Babatunde Fashola.

 

Speaking at the foundation laying/ground breaking ceremony of the construction of 10 units of luxury and affordable bungalow named Campagne De-Maison, in Mowe, Ofada, Ogun State, Adebajo, called on the public to take advantage of the low-cost housing, which the company is embarking upon.

“Many Nigerians are still tenants because they cannot afford to own a house. Government should do more to provide cheap and affordable houses for Nigerians as well as provide enabling environment for private investors to thrive.

“This is the reason UT Homes has embarked on a project of building affordable standard homes for middle and low-income earners,” Adebajo said.

Adebajo further said, “the project, a fully furnished gated community, is the first phase of what we are doing and it will be sold within the community. We are targeting middle and low-income earners. We also have provision for mortgages for those who cannot pay once. There is assured security with good sewage system, constant water with excellent finishing. If we go by our projection, the first set of people will move in within the next nine months time.

“So we urge Nigerians to take advantage of this opportunity and buy into this project because government cannot do it alone. It is our own little way of assisting the government. Many of the buildings are already sold out. This is a small development, we are going to do larger one.

Source: The Sun

Blended finance unlocks the keys to affordable housing across west Africa

Affordable housing is a major challenge across West Africa, where fewer than 7% of households can afford to buy their own home.

The situation is particularly acute in the countries of the West African Economic and Monetary Union (WAEMU) — Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo – where demand for decent housing far outstrips supply.

Click here to watch weekly episodes of Housing Development Programme on AIT

But a new financing tool developed by the World Bank Group, is helping thousands of families across the WAEMU access private housing finance and finally achieve their dreams of owning their own home.

The tool is the $2.5bn IDA 18 IFC-MIGA Private Sector Window(IDA PSW), launched in July 2017 to help catalyse private sector investments and create jobs in the lowest income countries eligible for financing from the World Bank’s International Development Association.

The window combines concessional funding provided by IDA donors with financing and guarantee instruments on commercial terms – an approach often referred to as blended finance’.

This is a game-changing, long-term initiative to bring investment to places that banks and investors have deemed too risky.

At the International Finance Corporation, where I lead the institution’s work on ‘blended finance’, the IDA PSW is helping us break new ground to unlock private investment in economies affected by fragility and conflict.

That includes the WAEMU, where banks currently issue just 15,000 new mortgages every year against an annual demand for 800,000 new housing units.

In December 2017, IFC tapped into the IDA PSW for the very first time with an investment in Caisse Régionale de Refinancement Hypothécaire de l’UEMOA (CRRH-UEMOA), a Togo-based mortgage refinancing company sponsored by the West African Development Bank and IFC.

IFC purchased $9 million in 12-year local currency bonds to increase housing finance while deepening local capital markets. This enabled CRRH-UEMOA to ramp up its housing portfolio while simultaneously extending the local bond market yield curve.

Without the IDA Private Sector Window support through its Local Currency Facility, IFC would not have adequate access to the local currency needed to purchase the CRRH-UEMOA bonds.

The window provided risk protection against exchange rate fluctuations, enabling IFC to source the local currency and purchase the bonds.

By bearing this risk, the PSW Local Currency Facility allows IFC to provide financing in local currency for high-impact projects in countries where market solutions are under-developed or non-existent.

Less than a year since this landmark investment, we have helped CRRH-UEMOA strengthen its local bond investor base and raise the interest of international investors for future CRRH-UEMOA bonds.

Our initial $9 million investment is expected to expand the availability of housing finance across the WAEMU by $500 million in the next four years.

As a result, 50,000 families and businesses are expected to obtain new mortgage loans; 200,000 people will have a new roof over their heads; and about 250,000 new housing-sector jobs will be created.

The project has been so successful that in January 2019, IFC anchored a second 15-year local currency bond in CRRH-UEMOA to support the institution’s efforts to progressively extend its bond maturity terms to 20 years by 2020.

IFC now hopes to replicate this project with IDA PSW support to create affordable housing finance across Bangladesh, Rwanda, and Tanzania, where homeowners can sometimes only find mortgages for up to three-year terms – making home ownership out of reach for most.

Our desire to do more in the poorest countries requires new tools and approaches for mobilising private capital, and the disciplined use of instruments like the IDA Private Sector Window can create markets, improve people’s lives – and in this case, create affordable housing for thousands of people.

Such ‘blended finance’ investments – combining concessional funds with private capital – allows my team to extend IFC’s reach into the most fragile markets, supporting high-impact transformative projects in sectors that struggle to attract commercial finance but have the potential to become commercially viable over time.

Since 2010, IFC’s blended finance team has committed more than $929 million of donor funds, catalysing more than $8.6 billion of IFC and private sector financing.

In 2015, the Addis Ababa Action Agenda challenged the global community to look beyond the public sector to catalyse the trillions of dollars of investment needed to achieve the United Nations’ Sustainable Development Goals (SDGs).

Following more than two decades working in the world’s most fragile places, I know that business as usual is not sufficient to meet the SDGs.

But IFC’s recent success in transforming the lives of thousands of new homeowners across the WAEMU – while strengthening local capital markets – gives me hope that we can find creative new ways to get closer to our goals of ending extreme poverty and promoting shared prosperity.

Innovative financial instruments like the IDA Private Sector Window are one way to help get us there.

Source: Martin Spicer,Director of Blended finance at the International Finance Corporation.

The 25 least affordable housing markets in US are located in just 4 states

It is getting more difficult to afford a home in America. According to a report from ATTOM Data Solutions, a real estate and property data provider, median home prices in 2018’s fourth quarter hit their least affordable levels in over a decade.

That quarter, homes sold for a median price of $241,250, a 9 percent increase from the fourth quarter of 2017, while the average annualized weekly wage in the United States of $56,381 climbed by only 3 percent. However, home prices actually became more affordable in 58 percent of counties over that same period.

Click here to watch weekly episodes of Housing Development Programme on AIT

For many Americans, owning a home is financially unrealistic. In some counties, the median home price is more than four times higher than what someone could afford based on the area’s average earnings.

24/7 Wall St. reviewed information from ATTOM Data Solutions on income needed to buy a home and average annual wages in each county to determine America’s 25 least affordable housing markets. The income needed to buy a house is calculated by assuming a 3 percent down payment and a 28 percent maximum “front-end” debt-to-income ratio.

The 25 least affordable housing markets in the United States are clustered in just four states – Massachusetts, Hawaii, New York and California. All seven New York counties are either in or just outside New York City. The 15 least affordable California housing markets are spread out across the state.

To determine the 25 least affordable housing markets in the United States, 24/7 Wall St. reviewed county-level data from ATTOM Data Solutions. Counties were ranked based based on the affordability ratio – median housing prices in the area relative to average annual wages. Home sale price data and the total number of housing units also came from ATTOM. The income needed to buy a house is calculated by assuming a 3 percent down payment and a 28 percent maximum “front-end” debt-to-income ratio.

Source: Grant Suneson

Affordable Housing: What South Africa Needs

The overarching definition used by Future Cape Town, a platform in Africa promoting democracy in the future of cities, is housing units that are affordable to a section of society whose income is below the neighbourhood’s median or average household income.

“However,” says Future Cape Town Director, Rashiq Fataar, “affordable housing comprises various types of housing.”

The four affordable housing types found in government policy, local government developments and some of the national government frameworks around human settlements are: gap, transitional, social and inclusionary.

Click here to watch weekly episodes of Housing Development Programme on AIT

1. Gap housing

In order for South Africa’s cities to truly become inclusive, integrated and transformed, affordable housing in urban areas needs to not only cater for lower-income earners, but must also incorporate the middle-income market, says Sendin.

The City of Cape Town defines gap housing as subsidies and products provided by government and financial institutions to enable households with a monthly income of between R3 500 and R20 000 to purchase property.

2. Transitional housing

According to the City, transitional housing is temporary housing afforded to individuals and households which helps them prepare to transition to more permanent options. It is recognised that, because of the shortage of alternatives for low-income households, some are likely to remain on a semi-permanent basis.

ceo

3. Social housing

The City describes social housing as state-subsidised rental housing for households with a monthly income of less than R15,000 that is developed and operated by an accredited social housing company or institution otherwise known as SHIs.

4. Inclusionary housing

Future Cape Town’s explanation of inclusionary housing is that it is housing developed by the private sector for a market that would not have had access to the development or the area within which the development takes place.

National and local government have admitted that they lack the resources to tackle the country’s housing issues alone, which possibly makes inclusionary housing the most viable option. One way that developers are able to contribute, whilst still ensuring the profitability of their projects, is through securing additional development rights from the city for free.

“Inclusionary zoning is a basic intervention used by top cities around the world to ensure that private developers build a fair amount of truly affordable housing in exchange for additional development rights,” says Julian Sendin, a Senior Researcher at Ndifuna Ukwazi, an activist organisation and law centre working to advance urban land justice.

Up until recently, social housing was seen as the only way to retain housing units as affordable in perpetuity. However, inclusionary housing might provide a better alternative as these homes are purchased and not merely rented, thus promoting ownership.

In order for South Africa’s cities to truly become inclusive, integrated and transformed, affordable housing in urban areas needs to not only cater for lower-income earners, but must also incorporate the middle-income market (earning between R15 000 to R45 000), who are also unable to afford to live in well-located urban areas. Doing so will ensure that more people from a mix of income brackets benefit from urban opportunities.

Source: Property24

Affordable Housing: Ghana To Launch One-billion Cedi Housing Fund

Middle and low-income earners can now breathe a sigh of relief as President Nana Addo Dankwa Akufo-Addo has given them an assurance that the government is rolling out pragmatic housing interventions for them to acquire decent and affordable houses.

In his 2019 State of the Nation’s Address ( SONA) to Parliament,the President, Nana Addo Dankwa Akufo-Addo, said there were many well-intentioned projects that ended up pricing out the low-income earners who were supposed to be their beneficiaries.

“We are determined to learn the lessons from past projects. The Ministry of Finance is working to launch a one-billion Ghana cedi housing fund that would target low-income earners,” he said.

Ghana’s housing deficit is currently estimated to be in excess of 1.7 million housing units. Experts have projected that a minimum of 190,000 units would be required annually for a 10-year period.

President Akufo-Addo said the government was committed to laying a good foundation to give a lasting solution to housing challenges.

Source: graphic.com.gh

Home Builders Back Senate Bill Aimed at Fixing Affordable Housing Crisis

A new bill that may fix the affordable housing crisis in Arkansas will receive its final vote Monday, February 25.

“The more rules and regulations you have, the more it’s telling people that are lower income that you don’t want them living in your city. And we don’t want that in Northwest Arkansas,” said Arkansas Representative Bart Hester.

Senate Bill 170 awaits approval on the house floor.

Click here to watch weekly episodes of Housing Development Programme on AIT

“Particularly in Northwest Arkansas when you see so much growth going on prices get elevated so fast. There’s nowhere for what we call, workforce housing, to live,” Hester said.

If passed, the bill would allow more affordable housing for work-force members like teachers, firefighters, police officers, and nurses.

“Arkansas has a shortage of affordable housing so we hope that it will encourage more building of affordable and attainable housing,” Arkansas Homebuilders Association Board of Directors Member, Ben Booth, said.

Booth said with the bill he hopes freedom is granted for all homebuyers in the Natural State.

“Dictating what kind of landscaping you have to have, what kind of brand or style of windows, or that the exterior has to be all brick,” Booth said. “We think it’s the individual homeowner, individual property right to build and buy what they chose.”

 

According to the National Association of Homebuilders, the average house in Fayetteville costs $225,000.

For every $1,000 added to the cost of a home, almost 400 homebuyers are priced out of the market.

“We know in the next 10 years there’s going to be a shortage of affordable housing and we know between 20 and 25 percent of the cost of the home is already government regulations. So we felt we needed to stop it at the state level,” Booth said.

Commercial buildings, historical structures, multi-family homes and neighborhoods protected by their Property Owners Association (POA), are some of the exclusions to the bill.

The Arkansas Municipal League says they are neutral on the bill.

A position Booth calls a home run for homebuilders.

“We worked with them on some amendments to make sure they were with us and completely neutral on the bill. So it was a big win for homebuilders,” Booth said.

“This is a no brainer for the legislature to support the people and their property rights. But it certainly is going to make a bunch of Mayors upset that want to tell you what color to paint your house,” Hester said.

Senate Bill 170 will go up for a final vote on Monday, February 25. Stay with KNWA for updates.

Source: Katie Davila

Kenya: Cost of land and infrastructure, barrier to affordable housing delivery

The high cost of land and infrastructure are the two major issues that developers face in their efforts to put up affordable housing units.

Rendeavour Country Head, Nick Langford, says the government should consider tax breaks and contribution toward putting up roads and other social amenities in gated communities housing hundreds of families.

The government targets to facilitate construction of half a million housing units by the year 2022 with the vision that at least one million Kenyans will be homeowners under the affordable housing agenda.

Click here to watch weekly episodes of Housing Development Programme on AIT

This is mainly being financed by private investors who are expected to work hand in hand with the government in driving this dream.

Six residential properties are planned at the mixed use Tatu City in Kiambu County among them Karibu Homes, kijani Ridge, Lifestyle heights and Unity Homes that are at different stages of construction.

According to Rendeavour Country Head, Nick Langford, the government should address the issue of high cost of land, as well as offer tax breaks for housing developers.

Housing units constructed under the affordable housing agenda are expected to cost between 800,000 shillings for a bed-sitter to 3 million shillings for a three-bedroom unit.

Companies are putting up factories and warehouses in the industrial park, which is 80 per cent sold to 34 companies that have bought land and are putting up factories.

The mixed-use development features; homes, schools, offices, shopping, health facilities, nature areas and an industrial park.

“Some individuals can afford houses and plots of land worth Kshs 500 million. They are such individuals and other investors in the private sector that we will rely on to construct the housing units with support from the government”.

Source: Brian Itava

Could improved mud houses help tackle housing shortage in Africa?

The World Bank projects that by 2050 the population of the continent will have doubled, meaning that the region will have added 3.5m people per month.

While the benefits of such population are enormous, Africa should strive to put elaborate measures to ensure affordable and adequate houses are available to avoid a crisis.

The issue of housing shortage in Africa is well documented. Kenya for example has a housing gap of approximately 2 million homes, for example, while more than 12m people in Egypt live in informal buildings.

Click here to watch weekly episodes of Housing Development Programme on AIT

Experts have long argued that conventional building material such as sand and cement cannot allow construction of low-cost mass houses.

“The use of brick and mortar in housing construction is expensive and as such has denied Kenya and other African countries the impetus to build million of houses needed to curb housing shortage in the country,” says Moses Thuku a property developer in Kenya.

If we can use more sustainable building materials such as straw, bamboo or clay as  construction materials, that can be a major step forward. However, some Africa countries have no legal framework to support such proposals.

But in Ghana one company is using the traditional ‘rammed earth’ technique  to help address a 2 million housing deficit.

Hive Earth uses locally sourced materials such as clay, laterite and granite chippings which are abundantly available in West Africa, says Joelle Eyeson the company’s cofounder.

“Our aim is to build houses that our workers and the majority of Ghanaians and West Africans can afford. The prototype that should be ready by the end of the year will cost roughly $5,000 for a one-room house,” She tells DW.

The rammed earth technique is a mixture of laterite, clay and then granite chippings. A small mount of cement or lime is used to bind it.

“We wanted a way of building without using cement, because it is very toxic; especially in our climate it combines with the heat and humidity and creates a really bad indoor air quality,” explains Ms Eyeson.

Source: CCE News Team

japon seks - ajans seks - esmer seks - public agent seks - seks hikayeleri - sohbet numaraları
Translate »
escort sakarya escort edirne escort kayseri escort konya escort ısparta escort bornova
Kıbrıs gece kulüpleri