A real estate advisor has urged the […]

A real estate advisor has urged the government to actualize its policy of developing affordable housing, stating that the lack of stringent effort has led to increased property prices across urban areas. Speaking in an interview with the Zambian Business Times—ZBT, Reuben Chongo observed that there are plenty of spaces, particularly in Lusaka, where multi-story affordable apartments can be developed, areas like Misisi and John Laing.

He called on the government to emulate countries like the United Kingdom (UK), where its government has invested millions in affordable housing, largely owned by the municipality.

 Tracing to the previous initiatives like the Presidential Housing Initiative (PHI) and Kabwata flats, which are still existing but were sold to private developers.

“In most of the developing countries there is public housing; some years back we had such initiatives, the ones we had in Matero and Chilenje, but we don’t have any at the moment except for institutions. We should have a mechanism like the way it is in the United Kingdom; much of the housing is owned by the municipalities.”

Chongo observed that the lack of will by the government has led to overpricing of the housing, revealing that much of the bigger development is controlled by foreign capital.

“If we don’t have such competition, that’s why the pricing is unaffordable; the majority of the sector is controlled by foreign capital, and they should develop complexes like two-bedroom houses,” he emphasized.

 He added that competition between the private sector and government in the housing market would create stable pricing. Observing that until public institutions compete and invest in the housing market, the rentals will remain high.

Article by Samuel Mutale