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The rent-to-own model provided by the Affordable Housing Program offers Kenyans an opportunity to gradually own homes while paying affordable rent.
How does the government make houses under Affordable Housing truly affordable?
- Subsidizing Costs: The government reduces the cost of housing by subsidizing land and infrastructure development, thereby lowering the overall cost of housing projects.
- Public-Private Partnerships (PPPs): By partnering with private developers, the government uses their efficiency and investment to provide housing at lower costs, making it affordable for low- and middle-income earners.
- Provision of Affordable Financing: The government facilitates access to affordable financing options such as low-interest mortgages and tenant purchase schemes, making it easier for Kenyans to buy homes.
- Tax Incentives and Reduced Fees: Tax breaks and reduced fees for developers involved in affordable housing projects help lower construction costs, which are then passed on to buyers through reduced home prices.
- Standardized and Efficient Construction: The government promotes the use of standardized building designs and cost-effective construction materials to reduce costs while maintaining quality and safety standards in housing units.
The program is giving millions of Kenyans the chance to own homes with dignity, transforming neighborhoods into thriving, sustainable communities for generations to come.
