Rent-to-own option traps affordable homes billions
Nairobi, Oct. 7 -- The government is struggling to turn its affordable housing programme into cash to fund the next phase of accelerated construction, with completed homes filling faster than revenue generated from sales and upfront deposits.
The Affordable Housing Board collected Sh212.342 million from sold units in the year to June, against a Sh15.25 billion target, achieving only 1.4 percent of projected revenue.
Published by HT Digital Content Services with permission from Business Daily....
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