National Housing Corporation (NHC), the government’s arm to develop housing and other buildings for the Tanzanian general public recently enjoyed record demand for its real estate projects in Kigamboni area in the Dar es Salaam region.
Out of the 182 houses to be developed, the corporation received a demand larger than the offer by the first week of 2013.
According to NHC this has never happened before, confirming the country’s great need for cheap housing combined with buying capability from the general public fueled by increasing access to loans.
The current housing deficit in Tanzania is estimated at three 3 million units and is growing at a rate of 200,000 units per annum.
According to NHC’s strategic plan 2010/11 – 2014/15i the corporation’s objective is to develop a minimum of 15,000 houses for sale and lease by June 2015, of which a minimum of 10,000 medium and high class houses and 5,000 affordable houses for the low income group.