Exploring and reducing Kenya's Housing Deficit with Boma Yangu: Making Housing Affordable for All.
Access to affordable housing is a significant challenge for many Kenyans, especially those on low and middle-income. However, the Boma Yangu portal is a solution that supports the Affordable Housing Program, which aims to reduce the gap between demand and supply for housing in Kenya and provide the main component of a large framework established towards the 200,000 Affordable Houses annually. This article explores how Boma Yangu is making housing affordable for Kenyans.
About the Boma Yangu Portal
The Boma Yangu portal is a platform that connects individuals to the Affordable Housing Program & Housing Fund. It allows individuals to save towards home ownership and makes access to mortgages and the National Tenant Purchase Scheme more accessible online. Allocation of homes is also through the portal. The portal is accessible via USSD, mobile web, and a web portal.
1. Home Applicants: Log In to Access Affordable Housing Opportunities
If you're a Kenyan citizen seeking affordable housing, logging into the Boma Yangu portal is the first step towards achieving your dream of homeownership. With your Boma Yangu account, you'll have access to information on the Affordable Housing Program, savings towards home ownership, and online access to mortgages and the National Tenant Purchase Scheme.
Logging into the portal is easy and can be done via USSD, mobile web, or the web portal. You'll need to provide your Kenyan ID number and other relevant personal details to create an account. Once you're logged in, you can apply for home allocation and track your application status.
2. Diaspora Home Applicants: Log In from Abroad
Are you a Kenyan living abroad with a valid Kenyan passport and looking to purchase affordable housing back home? Boma Yangu has made it easy for you to access the Affordable Housing Program from anywhere in the world. With your Diaspora Home Applicants account, you can apply for home allocation and make payments from abroad.
3. Organised Groups: Register to Access Affordable Housing Opportunities
If you're an employer registered in Kenya, you can register for an Organised Groups account to access affordable housing opportunities for your employees. Boma Yangu works with organised groups to deliver affordable housing units to their members.
4. Property Developers Portal: Coming Soon
Property developers operating in Kenya will soon be able to register for an account on the Boma Yangu portal. This will provide access to information on the Affordable Housing Program and other relevant resources.
5. Financial Institutions Portal: Coming Soon
Financial institutions registered and operating in Kenya will soon be able to register for an account on the Boma Yangu portal. This will provide access to information on the Affordable Housing Program and other relevant resources.
6. Micro, Small and Medium-Enterprises (MSMEs) Portal: Coming Soon
About the Affordable Housing Program
The Affordable Housing Program creates enabling environment interventions that enhance supply and facilitate demand in the housing sector in the interest of making housing affordable to all Kenyans. Increased urbanization and low affordability for housing units are growing the annual housing deficit. 22% of Kenyans live in cities, and the urban population is growing at a rate of 4.2% every year. With this level of growth, Kenya requires approximately 200,000 new housing units annually to meet demand, yet only 50,000 homes are built, leaving the housing deficit growing by 150,000 units per year. As a result of this mismatched supply and demand, housing prices have increased by 100% since 2004.
Affordable Housing and Economic Development
The affordable housing program can have an impact on the broader economy beyond the delivery of homes. For instance, estimates show that the contribution of real estate and construction to GDP will increase from the current 7% to 14% by 2022. Increased construction activity can also become an important source of revenue through processing of permits, approvals, and other related activity. Moreover, construction of housing is labor-intensive, and the labor can capture up to 10.5% of the value created by the spend on affordable housing. The affordable housing program can create up to 3 – 5 new jobs for every unit constructed and up to 8 indirect jobs created per unit. The program can also formalize the informal sector, as ring-fencing strategies ensure that the Jua Kali sector can supply inputs to the affordable housing program, and light industries will also have the opportunity to provide construction materials such as cement.
MSMEs will soon be able to access tenders and collaborate with other major program participants on the Boma Yangu portal. This will provide opportunities for MSMEs to participate in the delivery of affordable housing units and grow their businesses.
Boma Yangu: Milestones
Latest Projects: Bringing Affordable Housing to Kenyans.
The Boma Yangu portal has achieved significant milestones towards making housing affordable to Kenyans. It has completed ten projects, registered over 334,152 applicants, and helped 45,000 people become homeowners. Over 200 MSMEs have also onboarded, creating a ripple effect on job creation and economic growth.
The housing deficit in Kenya continues to grow each year, with demand for decent and affordable housing outweighing the supply. However, the Affordable Housing Program is making strides towards bridging this gap and making homeownership more accessible to low and middle-income households in Kenya. One of the key components of this program is the delivery of affordable housing projects across the country.
If you're looking to invest in affordable housing, you'll be pleased to know that there are ongoing and completed projects that you can explore. Here are some of the latest projects:
1. Starehe Point 1
Located in the Starehe Constituency in Nairobi County, Starehe Point 1 is an ongoing affordable housing project that is set to deliver modern, quality and affordable housing units to Kenyans. With prices starting at KES 1,650,000, this project is ideal for first-time homebuyers and those looking for affordable housing in Nairobi.
2. Kings Serenity
Kings Serenity is a completed affordable housing project located in Rongai, Kajiado County. This project is proof that quality, affordable housing is possible in Kenya. With prices starting at KES 3,800,000, Kings Serenity offers modern and comfortable living spaces for families and individuals alike.
3. Kings Sapphire
Kings Sapphire is another ongoing affordable housing project that is set to deliver quality and affordable housing units to Kenyans. Located in Bondeni, Nakuru County, this project is ideal for those looking for affordable housing options outside of Nairobi. With prices starting at KES 1,550,000, Kings Sapphire offers a great investment opportunity for those looking to own their first home.
4. Moke Gardens Affordable Housing Development
Moke Gardens is an ongoing affordable housing project located in Athi River Town, Machakos County. The development offers studio, one-bedroom, and two-bedroom apartments priced from KES. 1,500,000. The project is situated in a serene environment with easy access to social amenities such as hospitals, schools, and shopping centers.
5. Kings Boma Estate
Kings Boma Estate is an ongoing affordable housing project located in Ruiru, Kiambu County. The project consists of one-bedroom and two-bedroom apartments priced from KES. 1,500,000. The development is located in a prime location with easy access to social amenities such as schools, hospitals, and shopping centers.
6. Ongoing: Pangani Affordable Housing Project
Located in Nairobi County, next to the Pangani Police Station, this ongoing affordable housing project offers units starting at KES. 1,000,000. The development is easily accessible through public transport and is in close proximity to social amenities such as schools, hospitals, and shopping centers.
7. Ongoing: Buxton Point
Located in Mvita Constituency, Tononoka Ward, Mombasa County, Buxton Point is an ongoing affordable housing project under the program. The development features a range of unit sizes and prices, with units starting at KES. 2,900,000. The project is conveniently located close to various social amenities such as schools, hospitals, and shopping centers
Whether you're a first-time homebuyer or an investor looking to tap into the affordable housing market, these projects offer great opportunities to own quality and affordable homes. Check out these ongoing and completed projects and take the first step towards owning your dream home today.
In conclusion, access to affordable housing is crucial for the growth and development of Kenya's economy, and the Boma Yangu portal is a crucial component of the Affordable Housing Program. With its various features, the portal has become a reliable platform that connects individuals to the Affordable Housing Program & Housing Fund, enabling Kenyans to save towards home ownership and make access to mortgages and the National Tenant Purchase Scheme more accessible online. The portal's milestones show its significant impact towards making housing affordable to all Kenyans, and its contribution to the broader economy is undeniable.