President William Ruto has reduced the required deposit for prospective homeowners of Affordable Housing units to 5% of the house’s purchase price.
The reduction is aimed at enhancing the affordability and access to the houses. Currently, potential purchasers are required to make a down payment of 10% of the purchase price of a unit.
The agreement was announced following a high-level meeting between the head of state and COTU Secretary General Francis Atwoli.
Also, the government has resolved to prioritise the distribution of affordable housing units to salaried workers paying the Housing Levy.
This, however, excludes those eligible under the social housing category.
"It was agreed that all salaried workers who are contributors to the Affordable Housing Levy will be prioritised for allocation of affordable homes, excluding those eligible under the social housing category. To enhance affordability and access, the required deposit for those allocated housing units has been reduced from 10% to 5% of the unit's purchase price," Announced Atwoli after the meeting.
