ALLOW ME to react to the article, “Should luxury homes be the priority for RSSB?” (The New Times, February 28).
Affordability is the key issue. The bankers’ opinion is that very few people in Rwanda can afford high-end accommodation. And those who can, will are likely to struggle later on.
Risks? Owners will be unsolvable and RSSB will carry the burden of bulk of unoccupied houses, but mostly failure of strategic investment plan for Healthcare Benefits.
I guess one needs to work on a comprehensive national housing strategy (with public and private sector) to make sure we find the right equilibrium for those social priorities.
Tessy, Paris, France
I would imagine the potential buyers to be those in Diaspora or rich expatriates who want to settle in Rwanda. RSSB must have seen this as an opportunity to make profits while making the city look world-class and rival other more developed cities.
However, that would have been more feasible if there was no acute housing problem in the city. The high demand which is growing by the day is pushing prices higher. That is why this is sensitive both socially and economically.
It now looks as if RSSB’s investments are driven more by profits than the social interests of their subscribers and the public in general. Maybe they have an explanation for this. It would be interesting to hear it.