A new report by UN-Habitat suggests that the mortgage model is ill-suited for Kenya's housing needs, primarily benefiting high-income earners and excluding a significant portion of the population.

• Globally, only one in four housing loan applicants secured a loan in 2023.
• The report by the United Nations Human Settlements Programme (UN-Habitat) highlights the exclusionary nature of mortgages for developing economies like Kenya.
• This finding challenges ongoing efforts to expand the mortgage market beyond 100,000 loans in the country.