Mwenda Thuranira Calls for Policy Shift to Boost Affordable Housing Uptake

The high cost of homeownership and limited access to financing remain significant barriers in Kenya’s affordable housing sector, according to Mwenda Thuranira, a seasoned entrepreneur and founder of Myspace Properties.

Thuranira acknowledged the government’s efforts in promoting affordable housing but argued that its current approach does not fully address the needs of ordinary Kenyans.

He pointed out that many people have a low preference for ready-built houses, suggesting that public sensitization should take priority over merely constructing units that may not align with market demand.

“The government needs to create an enabling environment by supporting developer incentives rather than relying solely on its own efforts to provide housing,” he stated.

To enhance accessibility, Thuranira proposed offering incentives to developers through mechanisms such as a housing fund or low-income tax credits.

He also emphasized the need for public-private partnerships (PPPs), stating that private developers should take a leading role in affordable housing rather than competing with the government.

Additionally, he underscored the importance of mortgage accessibility, citing the Kenya Mortgage Refinance Company (KMRC) as a crucial institution in bridging the mortgage gap.

However, he insisted that KMRC must be fully funded to allow private developers to focus on housing delivery while ensuring more Kenyans can access affordable mortgages.

“The government must provide an avenue for greater absorption of housing through mortgage affordability. Subsidies should play a key role,” he noted.

To ensure fairness, Thuranira called for greater transparency in the allocation of housing units, particularly through platforms such as BOMA YANGU.

He also encouraged the government to explore self-build housing models, allowing individuals to construct their own homes instead of solely relying on developers.

Further, he advocated for the enactment of a Housing Act to protect homebuyers and enhance market transparency through proper data collection.

He also urged the government to prioritize slum upgrading projects, similar to its investments in roads and stadiums, to cater to low-income populations.

“The poorest populations cannot even afford houses valued at KSh 500,000. If we are serious about affordable housing, we must ensure both the cost and access requirements are balanced,” he emphasized.