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Housing supply in Lagos mainland declines as millennials opt for smaller apartments

The number of property developers starting construction in the Lagos mainland has tumbled by 80 per cent, following a major shift in Nigeria’s residential demand by the young professionals.  The shift was occasioned by large number of young professionals, 60 per cent of whom are within their first three years of employment coupled with the high rate of urbanization, leading to a surge in the...

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...

Africa looks to solve housing shortage amid growing population

Africa is a diverse continent, with roughly 1bn people, 54 countries and thousands of languages. Additionally, many of its economies are facing similar challenges. One of the most common obstacles African markets face is a shortage of affordable housing. Kenya has a housing gap of approximately 2m homes, for example, while more than 12m people in Egypt live in informal buildings. This is hardly unique to...

Houses in Nigeria

Growing African Cities Face Housing Challenge and Opportunity

With 60 - 70% of urban African households living in slums,  Report calls for new approach to housing, lending and land policies JOHANNESBURG, December 1, 2015 –   Africa faces a major housing crisis due to rapid urbanization and a growing slum population. New, targeted approaches to affordable housing are necessary if countries want to take advantage of the demographic shift...

Houses in Nigeria

Africa looks to solve housing shortage amid growing population

Africa is a diverse continent, with roughly 1bn people, 54 countries and thousands of languages. Additionally, many of its economies are facing similar challenges. One of the most common obstacles African markets face is a shortage of affordable housing. Kenya has a housing gap of approximately 2m homes, for example, while more than 12m people in Egypt live in informal buildings. This is hardly unique to...

Houses in Nigeria

Ebonyi State Government to partner Family Homes Funds on National Social Housing Programme

Ebonyi State has become the latest state to show interest in the National Social Housing Programme (NSHP) that plans to build 300,000 houses affordable houses for low-income earners across the country. At least 10 hectares have been provided by the state in Umuobuna, Uburu, Ohaozara local government area and zone 12, centenary city, Abakaliki for this development. The National Social Housing...

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