Southern Africa need $84 billion for housing
Southern Africa has an existing deficit of more than 4 million homes. The region will require an estimated $84 billion to invest in affordable homes to accommodate its rapidly growing and urbanising population. Get in touch to find about housing projects in Southern Africa.
In 2020, Southern Africa had a population of 67 million people. Current estimates show a shortage of more than 4 million homes across the region. With the population estimated to grow by 11 percent over the next decade to 77 million people combined with a rapid urbanisation rate, a further 200 thousand affordable homes would be required.
If developers can set entry-level prices at less than $20,000 per unit, a rate which is currently well below the actual market rate, the Southern African region would require $84 billion over the next ten years to provide housing for all. This investment is significantly less than what is needed by other African regions, such as Central- and West Africa.
Securing the investment is a crucial deliverable to achieve sustainable development goal 11 that deals with developing sustainable cities and communities for all.
For more information on housing opportunities in Southern Africa, please reach out to us here.