The demand for “affordable” housing has continued to grow in line with Uganda’s population growth rate of 3.5% p.a and the banking institutions have contributed greatly to private home ownership through mortgage financing. However, there is a shortage of good quality expatriate rental accommodation mainly as a result of the change of user in the once prime residential suburbs of Nakasero, Kololo and Bugolobi from residential to office use
The hotel and apartment accommodation has greatly improved over the last 10 years. The growth came about as a result of the Commonwealth Heads of Government Meeting (CHOGM) which was held in Uganda in 2007. The conference attracted over 50 heads of state along with over 4,000 delegates and support staff. The influx of the Heads of Government and delegates led to the implementation of the massive building programme of top-end accommodation (including hotels and apartments) constructions to meet the demand.
Kampala has unique apartment, gracious and elegant apartments most of which are located outskirts of Kampala City. The apartments coming onto the market are for both rental and outright sale. There have been an increasing number of apartments coming onto the market for rent in the past 3-5 years, plus a number of bigger schemes are being developed to target the top end of the market for sale. The recent big schemes in apartments include;
- Springhill’s apartments in Lubowa
- Royal Palms in Butabika, Palm Villas
- Kensington in Kyanja
- The Lodge Kampala
- Sun Bird Holiday Home in Ntinda
- Elephant Village Entebbe
- Mosa Courts apartments in the heart of Kampala
- Golf Course Apartments
There have been an increasing number of privately owned residential schemes coming onto the market for rent in the past 3-5 years, plus a number of bigger schemes have been developed to target the top-end of the market for sale. The recent big schemes include Springhill’s apartments in Lubowa, Royal Palms in Butabika, Palm Villas, Castle apartments, Kensington in Kyanja, Top Villas, Chartsworth and the various NHCC estates to name but a few.
The demand for “affordable” housing has continued to grow in line with Uganda’s population growth rate of 3.5% p.a and the banking institutions have contributed greatly to private home ownership through mortgage financing. It is important that very few affordable properties are being developed to serve the lower end of the market where majority of Ugandans fall. The majority of Ugandans living in urban areas earn less than Ushs 300,000 per month. They cannot afford reasonable accommodation within their level of income. The lack of affordable housing for this group of people is in away contributing to the rapidly increasing number of slums in urban areas.
There is a shortage of good quality expatriate rental accommodation mainly as a result of the change of user in the once prime residential suburbs of Nakasero, Kololo and Bugolobi from residential to office use.
A number of financial institutions are currently offering mortgage products for building or acquiring properties in the following areas:
- Residential homes
- Commercial building in urban areas
- Land purchase mainly around urban areas.
The banks prefer properties around the urban areas because they are appreciating in value much faster and they are also quite easy to sale in case the borrower defaults.
The banks which are providing mortgage finance include the following:
- Housing Finance Bank
- DFCU Bank
- Stanbic Bank
- Barclays Bank
- Standard Chartered Bank
- Centenary Bank
The hotels , lodges and apartment accommodation is organised as follows;
Fort Portal Town
Bwindi Impenetrable National Park
Kibale National Park
Kidepo Valley National Park
Lake Mburo National Park
Mgahinga Gorilla National Park
Mount Elgon National Park
Murchison falls National Park
Rwenzori Mountains National Park
Semuliki National Park
Queen Elizabeth National game Park