6. Draft Affordable Housing Regulations, 2024

The Affordable Housing Regulations are made by the Cabinet Secretary for Lands, Public Works, Housing and Urban Development to effect the Affordable Housing Act 2024.

Quick Link: https://housingandurban.go.ke/wp-content/uploads/2024/04/Affordable-Housing-Regulations-2024.pdf

· Key Provisions under the Regulations are:

• Section 7 which provides for the eligibility for the allocation of an affordable housing unit. A person shall be eligible to apply for allocation of a unit if they are a citizen of Kenya, above eighteen years old and has not been previously allocated an affordable housing unit.

• Section 9 provides for the deposit payable by a person eligible for allocation of an affordable housing unit to be ten percent of the sale price.

• A person who is unable to raise the deposit may apply for deposit assistance if their monthly income is below KES 20,000, if the person demonstrates that the unit shall be their primary residence and if the estimated monthly repayment for the purchase of the unit is less than thirty percent of the applicant’s monthly income.

• Section 31 precludes a purchaser of an affordable housing unit from selling the unit until the lapse of eight years from the completion of payment of the agreed purchase price. This is however not applicable to an affordable housing unit purchased through a mortgage.