Access to affordable and decent housing remains a dream to many households, especially in developing nations. In Kenya, the housing need has been identified as one of the most agent area that needs attention. In fact, the government has put affordable housing as one of the big four agenda for the Nation. This study examined the relationship between cost of financing and affordability of housing in Nakuru East and Nakuru West Sub-Counties. Data was collected from 384 households sampled from the 11 wards in the two sub-counties. Stratified random sampling was used to ensure adequate representation of every ward in the sample. Data was collected through self-administered structured questionnaires and interviews. A pilot test was conducted prior to the actual study, incorporating reliability and validly tests. The study achieved a response rate of more than 87%. Findings from analysis revealed that cost of finance is significant determinant of affordability of housing. The study recommends that the government and other stakeholders in the housing sector should consider subsidizing cost of building materials, land, and cost of professional services, mortgage facilities as well as water and electricity. The government can partner with financial institutions as well as private investment organizations to offer more affordable housing solutions to the general public.
| Published in | Journal of Investment and Management (Volume 10, Issue 4) |
| DOI | 10.11648/j.jim.20211004.13 |
| Page(s) | 66-73 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2021. Published by Science Publishing Group |
Cost of Financing, Affordability of Housing, Nakuru County
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APA Style
Stella Cheraisi Korir, Patrick Kibati, John Kipkorir Tanui. (2021). Cost of Financing on Affordability of Housing in Nakuru East and Nakuru West Sub-counties, Nakuru County, Kenya. Journal of Investment and Management, 10(4), 66-73. https://doi.org/10.11648/j.jim.20211004.13
ACS Style
Stella Cheraisi Korir; Patrick Kibati; John Kipkorir Tanui. Cost of Financing on Affordability of Housing in Nakuru East and Nakuru West Sub-counties, Nakuru County, Kenya. J. Invest. Manag. 2021, 10(4), 66-73. doi: 10.11648/j.jim.20211004.13
AMA Style
Stella Cheraisi Korir, Patrick Kibati, John Kipkorir Tanui. Cost of Financing on Affordability of Housing in Nakuru East and Nakuru West Sub-counties, Nakuru County, Kenya. J Invest Manag. 2021;10(4):66-73. doi: 10.11648/j.jim.20211004.13
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Download@article{10.11648/j.jim.20211004.13,
author = {Stella Cheraisi Korir and Patrick Kibati and John Kipkorir Tanui},
title = {Cost of Financing on Affordability of Housing in Nakuru East and Nakuru West Sub-counties, Nakuru County, Kenya},
journal = {Journal of Investment and Management},
volume = {10},
number = {4},
pages = {66-73},
doi = {10.11648/j.jim.20211004.13},
url = {https://doi.org/10.11648/j.jim.20211004.13},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20211004.13},
abstract = {Access to affordable and decent housing remains a dream to many households, especially in developing nations. In Kenya, the housing need has been identified as one of the most agent area that needs attention. In fact, the government has put affordable housing as one of the big four agenda for the Nation. This study examined the relationship between cost of financing and affordability of housing in Nakuru East and Nakuru West Sub-Counties. Data was collected from 384 households sampled from the 11 wards in the two sub-counties. Stratified random sampling was used to ensure adequate representation of every ward in the sample. Data was collected through self-administered structured questionnaires and interviews. A pilot test was conducted prior to the actual study, incorporating reliability and validly tests. The study achieved a response rate of more than 87%. Findings from analysis revealed that cost of finance is significant determinant of affordability of housing. The study recommends that the government and other stakeholders in the housing sector should consider subsidizing cost of building materials, land, and cost of professional services, mortgage facilities as well as water and electricity. The government can partner with financial institutions as well as private investment organizations to offer more affordable housing solutions to the general public.},
year = {2021}
}
TY - JOUR T1 - Cost of Financing on Affordability of Housing in Nakuru East and Nakuru West Sub-counties, Nakuru County, Kenya AU - Stella Cheraisi Korir AU - Patrick Kibati AU - John Kipkorir Tanui Y1 - 2021/11/12 PY - 2021 N1 - https://doi.org/10.11648/j.jim.20211004.13 DO - 10.11648/j.jim.20211004.13 T2 - Journal of Investment and Management JF - Journal of Investment and Management JO - Journal of Investment and Management SP - 66 EP - 73 PB - Science Publishing Group SN - 2328-7721 UR - https://doi.org/10.11648/j.jim.20211004.13 AB - Access to affordable and decent housing remains a dream to many households, especially in developing nations. In Kenya, the housing need has been identified as one of the most agent area that needs attention. In fact, the government has put affordable housing as one of the big four agenda for the Nation. This study examined the relationship between cost of financing and affordability of housing in Nakuru East and Nakuru West Sub-Counties. Data was collected from 384 households sampled from the 11 wards in the two sub-counties. Stratified random sampling was used to ensure adequate representation of every ward in the sample. Data was collected through self-administered structured questionnaires and interviews. A pilot test was conducted prior to the actual study, incorporating reliability and validly tests. The study achieved a response rate of more than 87%. Findings from analysis revealed that cost of finance is significant determinant of affordability of housing. The study recommends that the government and other stakeholders in the housing sector should consider subsidizing cost of building materials, land, and cost of professional services, mortgage facilities as well as water and electricity. The government can partner with financial institutions as well as private investment organizations to offer more affordable housing solutions to the general public. VL - 10 IS - 4 ER -
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