NAIROBI, Kenya – President William Ruto’s administration has recorded a 1,061% increase in the number of affordable housing units across the country, reinforcing his commitment to addressing Kenya’s housing deficit.
The number of units launched and under construction surged from 8,872 in 2022 to 103,000 in 2024, an increase of 94,128 units.
The affordable housing program, a key pillar of Ruto’s Bottom-Up Economic Transformation Agenda, aims to provide affordable homes while boosting job creation.
The initiative saw a corresponding 1,061% rise in jobs within the construction sector, from 17,744 jobs in 2022 to 206,000 in 2024, an additional 188,256 jobs created.
Under the program, 31,429 housing units are currently under negotiation, with the government introducing various incentives to attract developers.
These incentives include a reduction in the Railway Development Levy from 2% to 1.5%, a decrease in Import Declaration Fees from 3.5% to 2%, and a 15% corporate tax cut for developers constructing over 100 affordable housing units annually.
Ruto’s administration also made strides in mortgage accessibility, with a 40% increase in mortgage refinancing from 2,522 mortgages in 2022 to 3,527 in 2024.
This growth aligns with the president’s ambitious plan to raise the number of refinanced mortgages from 30,000 to 1 million.
When launching the affordable housing initiative in 2022, Ruto pledged to construct 200,000 units annually, not only to address the country’s housing shortage but also to provide employment opportunities for Kenya’s youth.
This initiative now stands as one of Ruto’s most significant achievements, marking a transformative period for housing development in the country.
The number of units launched and under construction surged from 8,872 in 2022 to 103,000 in 2024, an increase of 94,128 units.
The affordable housing program, a key pillar of Ruto’s Bottom-Up Economic Transformation Agenda, aims to provide affordable homes while boosting job creation.
The initiative saw a corresponding 1,061% rise in jobs within the construction sector, from 17,744 jobs in 2022 to 206,000 in 2024, an additional 188,256 jobs created.
Under the program, 31,429 housing units are currently under negotiation, with the government introducing various incentives to attract developers.
These incentives include a reduction in the Railway Development Levy from 2% to 1.5%, a decrease in Import Declaration Fees from 3.5% to 2%, and a 15% corporate tax cut for developers constructing over 100 affordable housing units annually.
Ruto’s administration also made strides in mortgage accessibility, with a 40% increase in mortgage refinancing from 2,522 mortgages in 2022 to 3,527 in 2024.
This growth aligns with the president’s ambitious plan to raise the number of refinanced mortgages from 30,000 to 1 million.
When launching the affordable housing initiative in 2022, Ruto pledged to construct 200,000 units annually, not only to address the country’s housing shortage but also to provide employment opportunities for Kenya’s youth.
This initiative now stands as one of Ruto’s most significant achievements, marking a transformative period for housing development in the country.
