Housing Finance in Angola


This profile is also available in French here.

In Portuguese please click here.

To download a pdf version of the full 2020 Angola country profile in English, click here.

Angola is part of the Southern African Development Community (SADC) and has a population of approximately 32.9 million. As the second largest oil producer in Africa, its economy has essentially been structured around oil production. Consequently, the fall in the price of oil in 2014 has had adverse effects on the country’s macroeconomic environment. The COVID-19 pandemic has limited prospects for a rapid economic recovery.

The housing and public works sectors are also experiencing a slowdown. Since the oil crisis, the National Town Planning and Housing Program (PNUL), aimed at constructing  one-million housing units remains incomplete, with only 218 418 units having been delivered in 2016.[1] Projects planned under the National Development Plan have also experienced difficulties.

A high proportion of the population is unbanked and the National Bank of Angola (BNA) has undertaken initiatives to improve the credibility of the banking sector and better serve the population. Housing finance remains an underdeveloped activity in Angola due to several reasons, including the absence of a mortgage law. However, some banks offer mortgage loans either to their employees or to individuals who meet their mortgage application criteria. Non-bank financial institutions (NBFIs) play an alternative financial role, thus consolidating their important position for access to financing in general.

Recent estimates show that half of Angolans live on less than Kz1273 (US$2) a day. The housing backlog is estimated to be more than 1.7 million and a third of the population have no access to adequate housing. Self-build combined with household savings and informal sector inputs remains one of the most widespread methods of accessing housing. The state established the Housing Promotion Fund (FFH) to promote access to housing in a more affordable way. The FFH is responsible for the majority of state-built housing (70 percent) under the National Town Planning and Housing Program (PNUL).

Private real estate developers and private real estate agencies face difficulties in accessing credit as well as declining demand, which reduces their involvement in the provision of housing. One of the major difficulties is that “projects built four years ago have been built at a cost per square meter higher than what potential buyers can afford today”.[2]

The state is planning improvements for the full implementation of its PNUL and is involved in the regulation of the real estate sector. A new law relating to the rental residential market has been approved and this will bring important changes. For example, it forces landlords to set their rent in local currency, thus creating a mechanism to regulate inflation in this segment.


[1] Government of Angola. (2016). Angolan National Report for Habitat III. http://habitat3.org/wp-content/uploads/Angola-Habitat-III-Final-Report-English.pdf (Accessed 6 August 2020). Pg.

[2] CAHF (2019). Housing Finance in Africa 2019. Angola. Centre for Affordable Housing in Africa. https://housingfinanceafrica.org/app/uploads/FRENCH-YEARBOOK-6.12.2019-compressed.pdf (Accessed 27 August 2020). Pg. 61

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

Each year, CAHF publishes its Housing Finance in Africa Yearbook. The profile above is from the 2020 edition, which has up-to-date profiles for 55 African countries.

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