The Central African Republic requires 250,000 additional homes by 2030
The Central African Republic will require an additional 250,000 homes by 2030. This is in addition to the estimated 1 million deficit that currently exists. ABiQ estimate this will require an estimated $25 billion.
The Central African Republic has an estimated population of 4.8 million and set to increase by 23 percent to reach 4.9 million by 2030. A direct result of this increase in population means an additional 250,000 homes will be needed. This estimate is done by ABiQ based on the new entrants in the 20-30 year age bracket that would require independent living.
Recent studies suggest there is a current deficit of 1 million homes. By adding the quarter-million will bring the total demand for affordable houses to 1.25 million over the next ten years. In an effort to eliminate the shortfall and meet the rising demand, an estimated $25 billion will be required. This is based on an average build cost of $20,000 per home.
With limited funding, a flailing as a result of COVID-19, the government has limited options to achieve this. The best course of action would be to develop legislation that will encourage the private sector to invest and develop the required infrastructure.
For more information on this topic, please reach out to us here.
If you enjoyed this article, you might also like to read “Half a million homes required in Chad by 2030” or “Central Africa requires close to 4 million homes by 2030“