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Home ownership dream takes a hit after construction costs up by 16pc
AAK warns that the rising cost of materials, labour, and transport is not only inflating project budgets but also widening the gap between households and affordable home ownership.
The cost of constructing houses has shot up by up to 16 percent in just 10 months, dealing a major blow to the homeownership dream of many Kenyans who are also keeping away by high mortgage terms.
A fresh update by the Architectural Association of Kenya (AAK) shows that the price of putting up homes, including bungalows, maisonettes, and luxury apartments, has climbed sharply in the 10 months to October.
