Housing Finance in Gambia


The Gambia has a limited housing finance sector. As the mortgage market does not yet meet the breadth of the population who might afford a mortgage, most households still finance their housing independently, with savings or non-mortgage credit. With an urbanisation rate of 4.24 percent, demand for affordable housing will remain strong, both for rental and purchase. Housing microfinance will play an important role in increasing the supply of housing, and efforts to increase access should be undertaken.

The lowest recorded interest rate on a mortgage in the Gambia is 20 percent, as of September 2016, with a 30 percent down payment. The Housing Finance Company of the Gambia Ltd and the Social Security and Housing Finance Corporation, both members of the African Union for Housing Finance, are leading lenders in the country. With a good macroeconomic environment, sound policy, better data and increased access to affordable credit, an enabled housing market can increasingly provide housing that the average household in the Gambia can afford.

Find out more information on the housing finance sector of the Gambia, including key stakeholders, important policies and housing affordability:

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2018 edition, which has up-to-date profiles for 54 African countries.

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