Factors Affecting Condominium House Price Affordability for Targeted Beneficiaries in Addis Ababa (Case of Bole- Sub-City, Addis Ababa)
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Date
2018-06-07
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Addis Ababa University
Abstract
This study has been conducted in Addis Ababa, the capital city of Ethiopia with general objective of factors affecting condominium house price affordability. From ten sub cities‟ in Addis Ababa where condominium houses are built and transferred to the residents, Bole Summit Condominium chosen purposively. In order to carry out the stated objectives of the research, both primary and secondary data were collected from 208 sample house hold heads and analyzed through descriptive statistics such as percentage, tabulation, frequency, bar graphs and in addition STATA were employed to enter the data in to the computer for analysis and finally a multiple regression which is an econometric model was employed to find out the intended result. To select the target population, the researcher used purposive sampling technique to gather the required information from 208 households who are living in studio, one bed, two beds, and three bedrooms. The data generated to meet these objectives were collected and secondary documents which is relevant to this study. The finding shows that, from the variables income, house type and house size are factors that affect the housing price affordability significantly and as a result it leads to less purchasing power of the urban poor society. On the contrary, the higher income dwellers are living in the condominium houses. With regard to the objective of the housing development program, the result reveals that some difficulty to achieve its objectives toward making the urban poor to be a house owner with affordable price. The study primarily recommend that, actions should be taken that can improve the level of difficulty of condominium house price affordability for the low and middle income citizens of the country by revising the housing policies and implementation strategies.
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Condominium, Low Income, Middle Income