Mortgage financing facility will boost affordable housing agenda
This image taken on February 20, 2017 shows construction of Blue Bells Gardens Apartments in Mlolongo, Machakos County. PHOTO | EVANS HABIL | NATION MEDIA GROUP
KMRC has the arduous task of resolving the binding constraints that have contributed to low mortgage uptake.
Improving the housing development ecosystem would have a profound impact on economic growth and social transformation.
The mortgage liquidity facility the government seeks to establish in a bid to promote affordable housing is key to stimulating growth and transformation of the housing development ecosystem.
The Kenya Mortgage Refinance Company (KMRC) is expected to drive the affordable housing pillar of President Uhuru Kenyatta’s ‘Big Four’ agenda through a public-private partnership that has commercial banks, pension funds, savings and credit cooperatives (saccos) and international finance agencies.
