Is there any data available on housing affordability in Africa?
Housing affordability is a function of three things: household income, the price of the house, and the terms of the finance. Across Africa, the confluence of low urban household incomes, high mortgage interest rates and short tenors (where these exist) or no finance at all, results in very low housing affordability.
There are very few countries where the cheapest newly built house by a private sector developer is accessible to the majority of the population, according to 2021 data by the CAHF. While a US$20,000 unit may be ‘affordable’ in comparative terms, there are only a very few countries on the continent where this is affordable to the majority.