Sustainable Financing of Housing Conversions for Low-income Earners: A Review of selected African Countries

Ntwanano Hlekane and Chioma Okoro

AfRES from African Real Estate Society (AfRES)

Abstract: Sustainable financing options for housing conversions for low-income earners are essential for global and emerging nations' investment growth. Africa's housing finance system prioritises middle- and upper-income groups, making it rigid for marginalised income groups to enter the housing market. Consequently, poor designs, affordability, corruption, housing quality, and ineffective programmes have destabilised housing policies. The study aimed to identify effective financing models for housing delivery in Africa. The study adopted a systematic review approach. Google Scholar, Emerald Insight, Ebscohost and Scopus databases were used to identify peer- reviewed journal articles, eBooks and conference papers from 2019 to 2024. The study focused on countries that emphasise the reduction of housing crisis such as South Africa, Nigeria, Ethiopia, Ghana, Mozambique and Uganda, based on severity, frequency, and accessibility. that savings, self-reliance or self-help funding, incremental funding through PPP (institutional financing, funding from both private and governmental organisations), mortgage refinancing and microfinance loans, community financing/neighbourhood cooperatives and informal savings groups. The study recommends government support, collaboration initiatives and knowledge sharing to enhance the effectiveness of these alternative funding mechanisms for sustainable housing conversions that solely benefit low-income earners.

Keywords: Africa; financing housing models; housing conversion; incremental housing financing; sustainable financing (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
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