Invest in housing, Zambians urged

Tue, 03 Jan 2017 07:24:12 +0000

By Annie Zulu

ZAMBIANS should invest in housing as it is the best investment one could ever invest in, Civic Forum on Housing and Habitant Zambia (CFHHZ) programme coordinator Grace Mtonga has said.

Ms. Mtonga said the housing sector was an important tool for stimulating national growth, urging Zambians to invest more in housing if the country was to achieve its aspirations of being a developed country.

She observed that although the housing sector was not much appreciated, it was bedrock of the country’s economy.

Ms. Mtonga told the Daily Nation in an interview that the housing sector could serve as an important contributor to economic growth, adding that the housing sector had a tremendous multiplier effect on the broader economy.

She noted that the sector had the potential to generate employment, increase productivity, raise standard of living and alleviate poverty.

“This is because investment in housing affects all aspects of life through its multiplier effect on economic development through forward linkages to the financial markets and backward linkages to land, building materials, tools, furniture and labour markets.”

“For instance, the construction of house units is capable of directly creating huge employments opportunities, the job creation potential for the housing sector is vast ,” she said.

Ms. Mtonga also noted that the sector could also provide social benefits by contributing to community and nation building.

“Home ownership often gives citizens a true stake in their communities, because after owning a home, many citizens tend naturally to be concerned about the provision of public goods in their communities from schools, to clinics, to security. These are intangible social benefits which a strong housing sector can help to generate,” she said

She reiterated that the housing sector had a great impact on job creation, employment, security, socio-political stability, effective economic growth and development of the country.