According to Business Intelligence experts ABiQ, the population of Eastern Africa will grow to almost 559 million from 445 million by 2030. That is an increase of 25% over a period of 10 years.
A growing population will boost the demand for the housing market. 20-30-year olds will enter the market, and this will result in a demand for 5 million new homes over the next decade. This doesn’t include the current deficits.
Investment required by East Africa
With construction costs varying across the Eastern African region, we have taken an average cost of construction of $37,500 for a 50 square meter affordable house. On this basis, ABiQ predicts Eastern Africa will require $187.5 billion for affordable housing.
Population Growth Rate 2021-2030 (%)
Source: ABiQ; United Nations
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