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Mores Mwirigi Njiru

Masters Student, Jomo Kenyatta University of Agriculture and Technology, Kenya

Dr. Makori Moronge

Lecturer, Jomo Kenyatta University of Agriculture and Technology, Kenya


The overall demand for housing in Kenya according to a UN Habitat survey is 150,000 housing units compared to 35,000 housing units being delivered in the market per year. These include those by the mortgage industry. The survey argued that housing problem can’t be solved starting at the bottom because the poor will still be overshadowed. Houses meant for the lower end could still be snapped up by individuals in the higher income class thereby distorting prices and displacing the target market. Mortgage industry in Kenya is still underdeveloped despite the high demand for houses. Therefore, the general objective for this study was to establish the factors affecting growth of mortgage industry in Kenya. The study applied descriptive research design and adopted stratified random sampling technique. The study found out that the factor that affect growth of mortgage industry in Kenya were; interest rate volatility and mortgage loans accessibility to low income earners which affected to great extent compared to credit risk which was found to have lesser effect. It also found out that the Kenya government had not put up sufficient incentives & regulations that could encourage greater uptake of the mortgage. The study recommends that to improve on mortgage industry growth government should put up in place rules & regulations to prevent the customers from being exploited through high interest rates and other charges. Also it should review property registration system work towards a one stop shop with unified data base. It further recommends that players in mortgage industry to work towards product range diversity. This will in turn capture the needs of low income earners.

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