President William Ruto has announced that Kenyans will now pay only half the deposit amount for affordable housing units. This big change is meant to help more people own decent homes.
Before, Kenyans had to pay 10% of the house price as a deposit. But now, they will pay only 5%. This will make it easier for many families, especially low-income earners, to join the housing plan.
Speaking during a public event, President Ruto said the government wants every Kenyan to have a safe and affordable place to live. He explained that the housing project is not just about building houses, but also about creating jobs and improving lives.
Ruto also gave good news to salaried Kenyans. He said those with regular payslips will find it easier to get houses under the program. Their monthly deductions will be used as part of their payment for the houses. This means they can pay slowly, like rent, until they fully own the homes.
The President encouraged more Kenyans to support the housing project. He said the plan will not only provide homes but also grow the economy by creating over 100,000 jobs.
This move comes at a time when many Kenyans are struggling with high living costs. Reducing the deposit gives hope to those who dream of owning a home but could not afford the earlier terms.
The affordable housing program is one of Ruto’s key promises, and he says the government will continue to make it better for all Kenyans.
By Kenyans