Top African Countries With The Most Affordable Housing In Mid-2024
Affordable housing is one advantageous feature that determines any resident’s appeal. As the world rapidly urbanizes and living expenses rise, African countries offer an interesting affordability model.
Embracing and developing affordability may help drive long-term urban growth and economic prosperity, and improve inhabitants’ quality of life.
Affordable housing under the right circumstances can help significantly alleviate poverty and inequality in regions plagued by this issue. Stable housing enables families to devote more of their money to other aspects of their lives.
In many African countries, the lack of adequate housing has led to the proliferation of informal settlements and slums. These areas often lack basic services such as clean water, sanitation, and electricity, posing significant health and safety risks.
However, countries that focus on creating affordable housing are in a perfect position to reduce the prevalence of informal settlements, improving living conditions and ensuring that all citizens have access to basic services.
Fortunately, this is a task many governments alongside investors have begun looking into with some countries making significant strides.
A report by the Africa Development Bank states; “In the past ten years, investor interest in affordable housing has grown considerably. A rapidly urbanizing, young, and growing middle class has suggested an important investment opportunity.”
With that said here are the African countries with the lowest affordable housing index according to Numbeo’s mid-year report.
Numbeo ranked 105 countries, 8 of which are African.
| Rank | Country | Affordability index |
|---|---|---|
| 1. | Ethiopia | 0.1 |
| 2. | Cameroon | 0.1 |
| 3. | Egypt | 0.4 |
| 4. | Algeria | 0.6 |
| 5. | Kenya | 0.6 |
| 6. | Tunisia | 0.6 |
| 7. | Morocco | 0.9 |
| 8. | South Africa | 2.4 |
