Housing Finance in Guinea


To download a pdf version of the full 2019 Guinea country profile, click here.

In 2018, Guinea’s economy realised growth in the contribution of the country’s industrial sector to the real GDP.  There were also significant increases in the contribution of the primary and services sectors to the real GDP, this was attributed to the improvement in access to electricity and the increased investment in the agro-food sector. Despite these growths, the manufacturing sector’s contribution remains weak. Whereas, the real estate development sector has seen a relative improvement. This is the result of the government’s commitment to affordable housing, fiscal reforms and new regulations introduced in 2015 to facilitate access to affordable housing for all.

The delivery of decent housing in the country has been prioritised, whereby several institutional reforms have been undertaken to facilitate access to land and housing and to promote financial inclusion. Despite the country’s financial sector being relatively large, the lack of available mortgage finance options (and housing finance) has limited the access of the general public to housing finance. The introduction of the solidarity-housing tax –a one percent tax rate which is levied on workers’ gross payroll I the public and private sectors- has begun to improve the access of low income earners to decent and affordable housing. However, the efforts of the Government of Guinea’s efforts to reduce the country’s housing backlog remains a challenge.

Guinea does not have a vibrant housing market because of both acute poverty and non-existent mortgage financing options. Therefore, this housing supply deficit, together with increasing urbanisation rates has resulted in an increase of informal housing in urban areas. However, this quality of the country’s urban fabric has created an opportunity for the improvement of the affordable housing sector. This will be achieved by making changes to legal framework through the promulgation of a housing and real estate development code to better organise the housing industry. The ability of the GoG to meet the objectives of these forthcoming policies will fast-track the delivery of affordable housing in the country.

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

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2019 edition, which has up-to-date profiles for 55 African countries.

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