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The Mozambican government has asked construction firms to invest in housing for the lower-middle class
The minister of public works and housing, Cadmiel Muthemba, made the call during the Mozambuild conference, held in Maputo from 26-28 November 2012.
Muthemba stressed that the Mozambican population was young and was facing issues in buying or renting their first home.
“Young people face a problem due to shortage of housing. Many want to leave their parents’ home and build their own, but the lack of cheap housing is a major obstacle to them,” he remarked.
Muthemba guaranteed that if potential investors were to put their money in housing aimed at the Mozambican lower-middle class, the returns would be immediate, since many people would be able to pay for housing built for this group.
He stressed that the growing need for infrastructure was driving the Mozambican building industry and turning the construction market into an opportunity for building companies.
Ministry sources also said that the real estate sector in Mozambique has grown rapidly in recent years, with new tower blocks and condominiums springing up in Maputo and other cities. Most of them, however, have been aimed at the rich at the upper-middle class.