Following the genocide, hotels, apartments and residential homes were destroyed, 18 years after the Rwanda genocide there has been increasing number of privately owned apartments and residential houses coming onto the market for both rental and outright sale.
There is still need for more affordable rentable residential houses in Rwanda especially in urban centers due to increased population in urban areas.
Land available for new development in Informal Settlements, there are 72,762 hectares of land available for redevelopment.
Rates for residential houses keep going up day by day due to factors of demand and supply.
Residential houses have contributed a lot in terms of revenue to the country through property taxes levied and there is also foreign inflow hence increased income.
A number of financial institutions are currently offering mortgage products for building or acquiring properties like apartments
The banks which are providing mortgage finance include the following:
- Commercial Bank of Rwanda (BCR)
- Bank of Kigali (BK)
- KCB Rwanda
The challenge remains the availability of low cost housing mortgages facilities on the market for people to access for acquisition of properties.
The following are key Apartments in Kigali
- Highlands Apartments Gacuriro
- Altis apartments
- Gacuriro House Apartments Kigali
- Lake View Apartment & Hotel
- Kacyiru executive apartments
- Remera apartment
- Park view courts apartments
The hotels , lodges and apartment accommodation is organised as follows;