There is potential for collaborating with the government of Tanzania to deliver social housing in informal settlements through slum upgrading programs, the 2020 Housing Finance in Africa Yearbook indicates.
Published every year by the Centre for Affordable Housing Finance in Africa (CAHF), the report provides an up-to-date review of practice and developments in housing finance and delivery in Africa.
In this 2020 edition, CAHF reminds that there is an acute shortage of accommodation in urban and cosmopolitan areas of Tanzania, mainly due to the rapid growth of economic projects and the population, which has increased demand for residential and commercial properties.
The National Housing Corporation (NHC), the Tanzania Building Agency (TBA) and other private firms require synergies that can support property development, and opportunities available include the development and management of housing estates, residential apartments, office buildings, conference and banquet facilities, shopping malls, hotels, and the provision of home financing.
CAHF stresses that areas that need strengthening include housing finance and technological progress. In addition, there is potential for collaborating with the government to deliver social housing in informal settlements through slum upgrading programs such as the Community Infrastructure Upgrading Programme.
Tanzania’s demand for housing and housing loans is high and challenged by limited supply of affordable housing and high interest rates.
Affordable housing demand is estimated at 200,000 housing units per annum with an existing housing deficit of 3 million housing units.