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Uganda’s Real Estate Boom Leaves Out The Poor, Targets Luxury Niche

Uganda’s Real Estate Boom Leaves Out The Poor, Targets Luxury Niche

A real estate boom in east Africa’s coffee producing Uganda in the last few years has seen an increase in property investors seeking to tap into high returns the sector is giving. But these property developers have only targeted the high end of the market and a budding middle class which is still very nascent, while leaving the majority poor with very little housing options.

Developers like Akright Housing, Kensington Luxury Heights and the state owned National Housing and Construction Corporation have catered for the needs of the high end and middle income bracket. This leaves the greater percentage of Ugandans to have their housing catered for by a few regular land developers, Afrika360 reported.

“Developers in our market are not targeting the masses where there are many people who want to own houses. They are still tapping into the high end market because they are not many and they are making higher profits there,” David Ninyikiriza, a mortgage development expert in Kampala told CCTV Africa.