1 May 2011
editorial
Kigali Institute of Science and Technology (KIST), jointly with a German firm, plans to construct low cost housing units with an estimated cost of Rwf 4.4 million per unit.
The houses which will be built using locally available materials consist of two bedrooms, a bathroom and living room.
This is a move to avail decent housing, in a planned manner, to a segment of the population that cannot afford to own high cost housing.
The country has undergone tremendous transformation and many people and families are able to own their own homes. Home ownership remains one of the important aspirations of our people.
A number of initiatives by the government and the private sector have been undertaken to facilitate citizens to realize the dream of home ownership. Mortgage schemes are also playing a key role in this endeavour.
That a new scheme, focusing on low income earners has been put in place, the majority of the population is set to benefit from the initiative.
Financial institutions have tended to focus on middle income and high income earners in terms of mortgage financing for home ownership.
It is imperative that they borrow a leaf from the KIST initiative, and develop ways of financing home ownership for the low income earners who constitute the majority of the population.
AllAfrica – All the Time
Continue reading here:
Low Cost Housing Vital