In September 2024, Kenya will experience a new wave of homeowners who will move from rental houses to one-bedroom units located in Mukuru, Nairobi under the affordable housing project spearheaded by the government in partnership with the private sector.
This milestone will fall on the anniversary of the Buxton Affordable Housing Project which was Kenya’s first housing units under the Affordable Housing Project. It was opened to the public on September 14, 2023, and officially commissioned by President William Ruto two months later.
In January 2024, the Head of State opened the second Affordable Housing Project in Bondeni, Nakuru County.
Kenyans.co.ke tracked down some of the tenants who have bought houses under the program to document their experience transitioning from tenants to homeowners.
It quickly dawned on the Kenyans.co.ke team that the affordable houses have defied the current real estate market trend as demand for the units has dwarfed the supply.
In less than a year, almost 584 units of one, two and three-bedroom houses are on the verge of being sold out.
“We are almost sold out but if you are keen on buying an apartment, we suggest you book one in Starehe Point, Nairobi. The houses are identical to the ones here in Mombasa only that they are located in the capital city,” the Buxton management told us mistaking us for clients.
We quickly realised this was not a marketing strategy as two potential buyers visited the area enquiring about the affordable housing units.
A young woman who had been working in the Middle East enquired if she can get a three-bedroom house of which she was told the units are almost sold out.
“I was saving a bit every month to be able to put down a down payment as it has always been my dream to own a house,” she explained.
This is one of the reasons why Kenyans are rushing for government-subsidised houses as they are far cheaper than privately owned units.
For example, a 3-bedroom house in Buxton is available for Ksh5.9 million with Kenyans required to pay only a deposit of Ksh590,000. In Starehe Point, despite being located at the nation’s capital city, Kenyans are only required to pay a deposit of Ksh330,000 for a modern three-bedroom house.
“I live around here in the Tudor area and pay Ksh25,000 monthly rent for a two-bedroom house and I was amazed to learn that with a downpayment of Ksh440,000, I can start my journey towards home ownership,” Moses a scrap dealer in Mombasa buying the affordable housing units tells Kenyans.co.ke.
With most of the housing units requiring a deposit of less than Ksh500,000, Kenyans have been able to save or take money from SACCOs to make the downpayment.
The beauty of affordable housing units does not end with affordability but also includes the social amenities offered.
For example, in Buxton Point, tenants tell Kenyans.co.ke that the housing complex comprises a basketball ball court, a football field and a half Olympic-sized swimming pool.
“Most of the amenities are offered for free to homeowners with Ksh100 charged monthly for maintenance of the swimming pool,” we are told.
The features are not only available in the affordable houses in Mombasa but also in all the other houses under construction in different parts of the country
Omar Ali who was among the first Kenyans to buy affordable housing units tells Kenyans.co.ke that the programme is the go-to option for middle and lower-class earners.
“I love the unit I bought during the first round of sale. I chose the affordable houses due to the payment plan which was favourable to me as a low-income earner,” he explained.
“I bought a 3-bedroom at Ksh4.9 million at a Ksh490,000 with the rest paid in batches after every three months.”
On why he could encourage other Kenyans to buy affordable houses, Omar explained, “Putting into consideration the challenging economic conditions, it is cheaper to opt for the affordable houses. The payment plan is also scattered over a period of time ensuring that you cannot lose your house due to a temporary financial crisis.”
