With lower than the expected demand for pre-constructed housing, the suppliers of funds and those that construct houses had been cognoscente of market dynamics to get their products off their shelves. “We have reduced prices on Namungoona houses from 290 million to 250 million, which is 40 million reduction. We tested the product in Mbarara, the Mbarara Apartments and we have reduced prices for a two bedroom unit from 199 million to 164; which 35 million off. And 299 million to 269 million for a three bedroomed house.” Said, Parity Twinomujjuni – Managing Director, NHCC.

“About how can we complement affordability through what we do on the financing side. We also want you to know that we can now provide you 100% financing. So, all you have to do is come in, talk to us and then we see if you qualify for that, so that will be a new possibility. Making home ownership is made easy.” Said, Mathias Katamba – Managing Director, Housing Finance Bank. The two institutions were in partnership again; one providing the houses at a discount and the other providing mortgage financing to buyers.

On the ladder was a low-cost housing project in Bukerere, Wakiso district with mortgage cost of houses going for about 45 million shillings per unit. “We still believe that Bukerere should start this year, we’ve have had some wonderful response from the market. It is a low-cost project, it should start this year, and we are almost through with the procurement processes.” Said the Managing Director, NHCC. Today, the lowest recorded interest rate on the mortgage in Uganda is 22% as of 2016 and requires at least a 30% down payment.