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Twenty thousand fortunate residents of Addis Ababa will receive a residential apartment in a month. The Addis Ababa City Housing Development and Construction Office will hand over 20, 330 thousand condominium houses built in Bole, Lideta and Nifas Silk Lafto sub cities this July.
Since 2005, the city government transferred more than 72 thousand condominium houses through a lottery method. More than 350 thousand people are registered and waiting for their lucky day to come. The city administration plans to build and transfer 170 thousand such houses in the next three years.
It is estimated that the housing demand in Addis stands around 60 thousand units per annum. This figure is believed to increase as a result of massive redevelopment activity currently undergoing and an ever increasing internal migration.
With an average population growth rate of around three percent, Addis Ababa needs 600,000 additional houses in the coming decade according to information obtained from Addis Ababa City Housing Development Office. This implies an additional housing demand of 60,000 units per year.
Based on data collected from contractors in relation to the cost of constructing a house made of wood and mud roofed with corrugated iron sheet seven years ago by the City Housing Development Office, the cost per square meter of a typical Ethiopian conventional house was found to be around 545 birr per square meter. However, that cost has now gone up to 1,250 birr. This makes it almost impossible for middle income to own a home.
To ease the ever increasing cost of owning a house, the government has started constructing condominium houses in major towns of the country almost a decade ago. Demand has been much higher for these types of homes in Addis Ababa than in the surrounding countryside.
Despite its long history, Ethiopia is one of the least developed countries in Sub- Saharan Africa. Its urban population stands around 11 million people. This represents only 16 percent of the total population of the country which is estimated to be 85 million currently.