Business
38k houses produced each year against an initial target of 222k
As urbanization continuously increases nationwide, the housing
Picture: Zambian Business Times
As urbanization continuously increases nationwide, the housing deficit becomes more apparent, with Zambia needing more than 1.5 million units to mitigate the deficit.
According to the Center for Affordable Housing in Africa (CAHA) one of contributing factors is the lack of finance from the government, with the budget annually less than 1.5%. “The government has committed little funding for affordable housing.
Less than the contribution of the national budget has been allocated, around K2.5 billion against a projected 91 billion (US$3.795 billion). The report further indicated that if the target of 222,000 housing units is met, the housing deficit is likely to reduce from 1.5 million to 1.3 million, at a cost of K565,000 (US $3.795) per unit by 2030.
Affordable and available housing is a huge benefit to 222,000 citizens; therefore, the housing need is a matter of urgency. The government and allies must ensure that the deficit is reduced.
Article by Samuel Mutale
Source: Zambian Business Times — Read the original article
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