8 January 2013

Tanzanian Low-Income Housing Initiative Sees Overwhelming Response

Tanzania's National Housing Corporation (NHC) received an overwhelming number of down payments for planned low-income housing units in the Kigamboni ward of Dar es Salaam in just two days, Tanzania's Daily News reported Tuesday (January 8th).

The NHC began accepting requests for the 182 housing units on January 2nd and had to stop the following day, as the agency received down payments for 120% of the available spots, said Sales Manager William Genya. "We never expected to have such an overwhelming turnout," he said.

A two-bedroom unit in the complex costs 46.98 million shillings ($29,500) and a three-bedroom unit costs 53.76 million shillings ($33,800). Genya urged the public to be alert, as houses will be sold on a first come, first serve basis, and announcements of sales may be posted at any time.

Last year, the NHC received a loan from a consortium of nine financial institutions worth 165 billion shillings ($104 million) to construct 15,000 affordable housing units by 2015.

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