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Rwanda - Market Shaping Indicators

To address issues of information asymmetry, Access to Finance Rwanda (AFR), commissioned the Centre for Affordable Housing Finance in Africa (CAHF) and data consultancy 71point4 to undertake a study on Rwanda’s affordable housing sector and its financing. Through use of the Market Shaping Indicators, developed in partnership with Reall, the data explores the institutional environment for affordable housing and interrogates the capacity and activities of the demand and supply sides. Together with the Rwanda yearbook profile, the MSIs provide an important input into the broader Data Agenda work in Rwanda – identifying key gaps in housing market data that would help create a better understanding of the housing ecosystem, for more targeted interventions and policy. Further details on this work can be found on the AFR website.

Country Overview

The housing and construction sector is integral to Rwanda’s economy, contributing 10% towards Rwanda’s GDP . Resultingly COVID-19, which saw Rwanda’s economy decline by an average of 4.1% in the first half of 2020, proved also devastating for the real estate sector and associated supply chains. Since late 2020 this has steadily started to recover, and easing access to both housing finance and capital markets for affordable housing has become a major priority for the Government of Rwanda.

Access to housing finance remains a key challenge for affordable housing markets in Rwanda. Demand for affordable housing will continue to increase with the percentage of Rwanda’s population living in urban areas expected to rise to 35% by 2024 from 18% in 2021. To meet this projected urbanisation a package of both good quality sustainable housing and finance must be offered that explicitly responds to actual household affordability, meeting the needs of households at the bottom end of the pyramid who are currently unable to afford the products on offer.

State of Housing Data

Rwanda has a rich administrative data landscape that can offer valuable insights on the state of the housing market. Overall data was found for a total of 96 out of the 114 Market Shaping Indicators (84% of all indicators) along several aggregations. Areas for improvement were identified, notably to work with the Rwanda Housing Authority, Rwanda Land Management and Use Authority, National Bank of Rwanda and Rwanda Development Board to improve the quality and metrics of supply-side, demand-side and housing transactions data.

Rwanda’s existing work in digitisation stands the affordable housing sector in good stead, providing opportunities for demonstrating credit worthiness and bringing efficiencies into supply chains. Furthering this to digitise income streams and construction payments will help to improve visibility of cash flows and enable growth to scale.

Text on this page is based on the MSI Rwanda Country Profile, drawn from Centre for Affordable Housing Finance (2021). Housing Finance in Africa Yearbook: 12th Edition 2021, with additional content from Access to Finance Rwanda.

Read the full report: Scoping
Rwanda’s Affordable Housing
Sector and its Financing, on
AFR’s website

Key Indicators

Displayed In

1. Land & Infrastructure

% of urban bottom 40 households without access to basic sanitation services

13.13

Bottom 40 See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2012 DHS 96.5%
Ghana 2014 DHS 93.15%
Kenya 2014 DHS 88.25%
Morocco 2004 DHS 52.05%
Mozambique 2011 DHS 95.6%
Nigeria 2018 DHS 83.1%
Tanzania 2017 DHS 37%
Uganda 2016 DHS 94.5%
Rwanda 2016 National Institute of Statistics Rwanda (NISR) 13.13%
Pakistan 2018 The DHS Program 2.75%
India 2018 NSSO 76th Round 0.2%

2. Construction & Investment

% of urban population living in slums, informal settlements, or inadequate dwellings

42.1

Urban See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire N/A
Ghana N/A
Kenya N/A
Morocco N/A
Mozambique N/A
Nigeria N/A
Tanzania N/A
Uganda N/A
Rwanda 2018 World Bank 42.1%
Pakistan N/A
India 2018 NSSO 76th Round 35%

3. Sales & Rental

Number of residential mortgages outstanding

44,177

National See all MSI countries
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Country Year Data Source Value
Kenya 2019 Central Bank of Kenya 27,993
Nigeria 2019 NMRC 32,260
Tanzania 2019 Bank of Tanzania and Tanzania Mortgage Refinance Company Limited 5,460
Rwanda 2020 National Bank of Rwanda (NBR) 44,177
Pakistan 2019 State Bank of Pakistan - Housing Finance Data Review 58,620
India 2020 Reserve Bank of India 9,817,180

3. Sales & Rental

Price of the cheapest, newly built dwelling by a formal developer or contractor

10,000,000 R₣$11,119.14

Urban See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2018 Site d'annonce et promotion dans l'immobilier en Côte d'Ivoire 15,500,000 CFA$27,087.48
Ghana 2019 Damax Construction Co. Ltd 108,704 GH₵$19,621.66
Kenya 2019 Tsavo Real Estate 4,000,000 Ksh$37,037.04
Morocco 2019 Various real estate websites 250,000 DH$27,027.03
Mozambique 2016 Casa Minha 3,418,491 MZ$48,147.76
Nigeria 2019 Millard Fuller Foundation; Shelter Origins 2,900,000 NGN$7,651.72
Tanzania 2018 CAHF 37,966,107 TZS$16,508.58
Uganda 2019 Various property developers 125,000,000 UGX$34,097.11
Rwanda 2020 Marchal Real Estate Developers 10,000,000 R₣$11,119.14
Pakistan 2021 Partners 2,500,000 PKR$14,305.33
India 2022 Real estate websites and industry experts 160,000 IN₹$2,176.87

3. Sales & Rental

% of national households that rent their dwelling

8.94

National See all MSI countries
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Country Year Data Source Value
Ghana 2017 Ghana Statistical Service 28%
Kenya 2019 Central Bank of Kenya, Kenya National Bureau of Statistics, FSD Kenya 35.01%
Morocco 2014 High Commission for Planning; World Bank 18.5%
Nigeria 2018 World Bank; Nigeria National Bureau of Statistics 21.8%
Tanzania 2017 National Bureau of Statistics 80.56%
Uganda 2016 DHS 53.45%
Rwanda 2020 Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) 8.94%
Pakistan 2017 Population and Housing Census 11.53%
India 2018 NSSO 76th Round 13%

5. Enabling Environment

Ease of Doing Business Index Rank: Global

38 out of 190

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2020 World Bank 110
Ghana 2020 World Bank 118
Kenya 2019 World Bank Ease of Doing Business 61
Morocco 2020 World Bank 53
Mozambique 2019 World Bank 74
Nigeria 2020 World Bank 131
Tanzania 2020 World Bank 141
Uganda 2020 World Bank 116
Rwanda 2020 World Bank Ease of Doing Business Indicators 38 out of 190
Pakistan 2020 World Bank Doing Business Indicator 108 out of 190
India 2020 World Bank 63 out of 190

6. Economic Environment

GDP Per Capita

737,578.59 R₣$820.12

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2018 World Bank 1,024,171 CFA$1,789.82
Ghana 2019 World Bank 11,489 GH₵$2,073.83
Kenya 2018 World Bank 173,272 Ksh$1,604.37
Morocco 2018 World Bank 30,725 DH$3,321.62
Mozambique 2018 World Bank 30,772 MZ$433.41
Nigeria 2018 World Bank 659,159 NGN$1,739.21
Tanzania 2018 National Bureau of Statistics; World Bank 2,297,020 TZS$998.80
Uganda 2018 World Bank 2,357,327 UGX$643.02
Rwanda 2019 World Bank 737,578.59 R₣$820.12
Pakistan 2020 World Bank National Accounts Data 188,900 PKR$1,080.91
India 2020 Ministry of Statistics and Program Implementation 151,760 IN₹$2,064.76

7. Demand

Population Size

12,626,950

National See all MSI countries
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Country Year Data Source Value
Cote d'Ivoire 2017 World Bank 24,437,469
Ghana 2019 World Bank 30,417,856
Kenya 2017 World Bank 50,221,473
Morocco 2017 World Bank 36,471,769
Mozambique 2018 World Bank 29,495,962
Nigeria 2017 World Bank 190,873,311
Tanzania 2019 World Bank 58,005,463
Uganda 2017 World Bank 41,487,000
Rwanda 2019 World Bank 12,626,950
Pakistan 2020 World Bank National Accounts Data 220,892,331
India 2021 Minsitry of Health and Family Welfare 1,361,343,000
Displayed In

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    Guide 1. Land & Infrastructure 2. Construction & Investment 3. Sales & Rental 4. Maintenance & Management 5. Enabling Environment 6. Economic Environment 7. Demand

    The Market Shaping Indicators project is a work in progress. Significant gaps exist in data, which will be filled in future revisions. We would recommend checking back regularly for updates. We are keen to receive any feedback that you have on this Dashboard, which can be sent to [email protected].

    Using the Dashboard

    The indicators are split into 6 key areas, split into the Housing Value Chain: Land & Infrastructure, Construction & Investment, Sales & Rental, Maintenance & Management, Enabling Environment, Economic Environment and Demand, shown in the following tabs. Navigation can either be undertaken by using the tabs, or through the Search box immediately above. Above this, currency indicators can be toggled between USD and local currency.

    Users are able to further interrogate each indicator each indicator through clicking on the arrows to the left of each indicator. This expanded section shows the data elements that are used to produce the overall indicator value, dates of data collection, source details, hyperlinks to the original data where possible, and a breakdown of data quality. The majority of indicators are quality assessed, based on the whether they are: Interpretable; Relevant; Sufficiently Accurate; Representative; Timely; and Accessible. Indicators are scored on each of these criteria using a 1-4 star system, detailed below:

    ☆ – poor

    ☆☆ – moderate

    ☆☆☆ – good

    ☆☆☆☆ – excellent

    Finally, all data can be downloaded for further interrogation. By clicking on Switch to Data View at the top of the screen, users can filter data based on countries and columns, and download in a .csv or .xls file.

    Bottom 40

    Reall targets the Bottom 40% of the urban income pyramid, referred to as the ‘Bottom 40’ or ‘B40’. An objective of the MSI work was to better understand and demonstrate the market from the perspective of households in the Bottom 40, and as such data is aggregated for this group where possible. Data for this group can be particularly challenging to come across. In part, this is due to the difficulties in accurately defining this group using existing data sets. Additionally though, the informality of much of life for lower income groups severely limits data availability, particularly in terms of key data on jobs, housing and relationships with local government. This lack of data is a key blockage for further engagement at the lower end of the housing market, and resolving this is an objective of Reall’s and of the MSI work.

    Aggregations

    Data is shown at various different “aggregations”, which demonstrate the size and location of the population for which the data represents. This varies from national to city level in terms of population groupings. Additional aggregations exist for the Bottom 40, as detailed above, enabling a focused view on the lower end of the market.

    For relevant data, Reall’s partners are also included as an aggregation. This is not meant to be representative of the entire market, but recognises that as practitioners and experts within the lower end of the housing market of each country, their experiences are a useful check on other data sets, and an indication of the value when other data is not available.

    Terms of Use

    Reall Ltd (“Reall”) endeavours to make its data as freely available as possible in order to demonstrate the successes of its model and encourage other actors into the affordable homes movement. Reall provides the user with access to these data free of charge subject to the terms of this agreement.

    Users are encouraged to use the data to benefit themselves and others in creative ways.

    Unless specifically labelled otherwise, you are free to copy, distribute, adapt, display or include the data in other products for commercial or non-commercial purposes for no cost under a Creative Commons Attribution 4.0 International License, with the additional terms below.  The basic terms may be accessed here. By using or downloading the data, users are agreeing to comply with the terms of a CC BY 4.0 licence, and also agreeing to the following mandatory and binding additions:

    – You agree to provide attribution to Reall in any published use of the data, including but not limited to articles, papers, blogs, books. Usage includes both direct publication of the existing data, along with any analysis undertaken by the user. This attribution should include Reall’s name and the following link – reall.net/dashboard. An electronic copy of all reports and publications based on the data should be shared with Reall ([email protected]).

    – When sharing or facilitating access to the data, you agree to include the same acknowledgement requirement in any sub-licences of the data that you grant, and a requirement that any sub-licences do the same. You may meet this requirement by providing the uniform resource locator (URL) to these terms of use.

    – Some datasets and indicators may be provided by third parties, and may not be redistributed or reused without the consent of the original data provider, or may be subject to additional terms and conditions. Where applicable, third party data is labelled as such, and usage conditions can be found on their respective websites.

    Rwanda s formal housing sector comprises of real estate agencies and individuals who purchase land for development in different residential zones. During the first quarter of 2020, Rwanda Land Management and Use Authority registered 71 463 land transactions . The formal market barely serves 3% of the annual housing demand in Kigali, though this is expected to grow, supported by the findings of the World Bank ease of doing business index which noted a 3.6% improvement in dealing with construction permits in 2020 compared with 2019 .

    Currently a significant driver of infrastructure costs is the efficiency (or inefficiency) of statutory compliance processes “ whether in terms of land titling, building plan approval or environmental impact assessments. In Rwanda, compliance costs comprise 9% of the overall price of the unit. A particularly innovative intervention introduced by the Rwanda Land Management and Use Authority, is an information inquiry portal. Prospective buyers can use this to confirm land ownership, check land area, land use, whether the property has a mortgage registered against it, or verify other restrictions or transactions relating to that property ³.

    Indicator Data Source Aggregation Year Data Quality Data Accessibility Value
    Regulated minimum size of a residential plot in urban areas in square meters
    i
    The minimum size of a residential plot in urban areas in square meters as per legislation/regulation.
    		 Kigali Master Plan 2050 Zoning Regulations Kigali 2020 100
    Smallest residential plot size in urban areas
    i
    The smallest plot size (in square meters) available in a residential development by a developer / contractor.
    		 Marchal Real Estate Developers Marchal Real Estate Developers 2020 300m2
    Average land costs per m2
    i
    The average cost per square meter of unserviced land that is zoned for residential development in urban areas.
    		 Official Government Gazette No. Special of 08/11/2018 Kigali 2020 7,522 R₣$8.36
    Marchal Real Estate Developers Marchal Real Estate Developers 2020 10,000 R₣$11.12
    % of land for urban residential development acquired from the private sector
    i
    Percentage of land acquired from the private sector by formal developers / contractors for residential developments in urban areas out of all the land that they acquired for residential developments in urban areas.
    		 Marchal Real Estate Developers; Marchal Real Estate Developers Marchal Real Estate Developers 2020 0%
    World Bank DBI geographic coverage index score ranking: Africa
    i
    The rank of the country's score on the World Bank's geographic coverage index within Africa. The geographic coverage index has four components: (1) How complete the coverage of the land registry is at the level of the largest business city. A score of 2 is assigned if all privately held land plots in the city are formally registered at the land registry; 0 if not. (2) How complete the coverage of the land registry is at the level of the economy. A score of 2 is assigned if all privately held land plots in the economy are formally registered at the land registry; 0 if not. (3) How complete the coverage of the mapping agency is at the level of the largest business city. A score of 2 is assigned if all privately held land plots in the city are mapped; 0 if not. (4) How complete the coverage of the mapping agency is at the level of the economy. A score of 2 is assigned if all privately held land plots in the economy are mapped; 0 if not. (5) The index ranges from 0 to 8, with higher values indicating greater geographic coverage in land ownership registration and cadastral mapping.
    		 World Bank Ease of Doing Business Indicators National 2020 1 out of 54
    World Bank DBI geographic coverage index score ranking: Global
    i
    The global rank of the country's score on the World Bank's geographic coverage index. The geographic coverage index has four components: (1) How complete the coverage of the land registry is at the level of the largest business city. A score of 2 is assigned if all privately held land plots in the city are formally registered at the land registry; 0 if not. (2) How complete the coverage of the land registry is at the level of the economy. A score of 2 is assigned if all privately held land plots in the economy are formally registered at the land registry; 0 if not. (3) How complete the coverage of the mapping agency is at the level of the largest business city. A score of 2 is assigned if all privately held land plots in the city are mapped; 0 if not. (4) How complete the coverage of the mapping agency is at the level of the economy. A score of 2 is assigned if all privately held land plots in the economy are mapped; 0 if not. The index ranges from 0 to 8, with higher values indicating greater geographic coverage in land ownership registration and cadastral mapping.
    		 World Bank Ease of Doing Business Indicators National 2020 31 out of 209
    World Bank DBI quality of land administration index ranking: Africa
    i
    The rank of the country's score on the World Bank's quality of land administration index within Africa. The quality of land administration index is composed of five other indices: the reliability of infrastructure, transparency of information, geographic coverage, land dispute resolution and equal access to property rights. Data are collected for each economys largest business city.
    		 World Bank Ease of Doing Business Indicators National 2020 1 out of 54
    World Bank DBI quality of land administration index ranking: Global
    i
    The global rank of the country's score on the World Bank's quality of land administration index. The quality of land administration index is composed of five other indices: the reliability of infrastructure, transparency of information, geographic coverage, land dispute resolution and equal access to property rights. Data are collected for each economys largest business city.
    		 World Bank Ease of Doing Business Indicators National 2020 3 out of 209
    Total number of residential properties with a title deed
    i
    The total number of residential properties that have a title deed as per the deeds registry.
    		 Rwanda Land Management and Use Authority (RLMUA) National 2021 1,606,401
    Number of procedures to register residential property
    i
    The number of procedures to register residential property. Assumptions about the sellers property: Is fully owned by the seller. Has no mortgages attached and has been under the same ownership for the past 10 years. Is registered in the land registry or cadastre, or both, and is free of title disputes. Is located in an urban residential zone and no rezoning is required. The property, consisting of land and a dwelling, will be transferred in its entirety. The dwelling is in good condition, complies with all safety standards, building codes and other legal requirements. The property will not be subject to renovations or additional construction following the purchase. Has no trees, natural water sources, natural reserves or historical monuments of any kind. Will not be used for special purposes, and no special permits are required. Has no occupants, and no other party holds a legal interest in it. Assumptions about procedures: A procedure is defined as any interaction of the buyer, the seller or their agents (if an agent is legally or in practice required) with external parties, including government agencies, inspectors, public notaries, architects, surveyors, among others. Interactions between company officers and employees are not considered. All procedures that are legally or in practice required for registering property are recorded, even if they may be avoided in exceptional cases. Each electronic procedure is counted as a separate procedure. Payment of capital gains tax can be counted as a separate procedure. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is used by the majority of property owners. Although the buyer may use lawyers or other professionals where necessary in the registration process, it is assumed that the buyer does not employ an outside facilitator in the registration process unless legally or in practice required to do so.
    		 World Bank Ease of Doing Business National 2020 3
    Name of residential property registration procedure that takes the longest to complete
    i
    The name of the procedure that takes the longest to complete out of all procedures required to register residential property. Assumptions about the sellers property: Is fully owned by the seller. Has no mortgages attached and has been under the same ownership for the past 10 years. Is registered in the land registry or cadastre, or both, and is free of title disputes. Is located in an urban residential zone and no rezoning is required. The property, consisting of land and a dwelling, will be transferred in its entirety. The dwelling is in good condition, complies with all safety standards, building codes and other legal requirements. The property will not be subject to renovations or additional construction following the purchase. Has no trees, natural water sources, natural reserves or historical monuments of any kind. Will not be used for special purposes, and no special permits are required. Has no occupants, and no other party holds a legal interest in it. Assumptions about procedures: A procedure is defined as any interaction of the buyer, the seller or their agents (if an agent is legally or in practice required) with external parties, including government agencies, inspectors, public notaries, architects, surveyors, among others. Interactions between company officers and employees are not considered. All procedures that are legally or in practice required for registering property are recorded, even if they may be avoided in exceptional cases. Each electronic procedure is counted as a separate procedure. Payment of capital gains tax can be counted as a separate procedure. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is used by the majority of property owners. Although the buyer may use lawyers or other professionals where necessary in the registration process, it is assumed that the buyer does not employ an outside facilitator in the registration process unless legally or in practice required to do so. Assumptions about time: Time is recorded in calendar days. The measure captures the median duration that property lawyers, notaries or registry officials indicate is necessary to complete a procedure. It is assumed that the minimum time required for each procedure is one day, except for procedures that can be fully completed online, for which the time required is recorded as half a day. Although procedures may take place simultaneously, they cannot start on the same day (again except for procedures that can be fully completed online). It is assumed that the buyer does not waste time and commits to completing each remaining procedure without delay. If a procedure can be accelerated for an additional cost, the fastest legal procedure available and used by the majority of property owners is chosen. It is assumed that the parties involved are aware of all requirements and their sequence from the beginning. Time spent on gathering information is not considered. If time estimates differ among sources, the median reported value is used.
    		 World Bank Ease of Doing Business National 2020 Finalize registration at the District Land Registry and obtain new deed
    Time to register residential property (days)
    i
    The total time taken in days to complete all of the procedures required to register residential property. Assumptions about the sellers property: Is fully owned by the seller. Has no mortgages attached and has been under the same ownership for the past 10 years. Is registered in the land registry or cadastre, or both, and is free of title disputes. Is located in an urban residential zone and no rezoning is required. The property, consisting of land and a dwelling, will be transferred in its entirety. The dwelling is in good condition, complies with all safety standards, building codes and other legal requirements. The property will not be subject to renovations or additional construction following the purchase. Has no trees, natural water sources, natural reserves or historical monuments of any kind. Will not be used for special purposes, and no special permits are required. Has no occupants, and no other party holds a legal interest in it. Assumptions about procedures: A procedure is defined as any interaction of the buyer, the seller or their agents (if an agent is legally or in practice required) with external parties, including government agencies, inspectors, public notaries, architects, surveyors, among others. Interactions between company officers and employees are not considered. All procedures that are legally or in practice required for registering property are recorded, even if they may be avoided in exceptional cases. Each electronic procedure is counted as a separate procedure. Payment of capital gains tax can be counted as a separate procedure. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is used by the majority of property owners. Although the buyer may use lawyers or other professionals where necessary in the registration process, it is assumed that the buyer does not employ an outside facilitator in the registration process unless legally or in practice required to do so. Assumptions about time: Time is recorded in calendar days. The measure captures the median duration that property lawyers, notaries or registry officials indicate is necessary to complete a procedure. It is assumed that the minimum time required for each procedure is one day, except for procedures that can be fully completed online, for which the time required is recorded as half a day. Although procedures may take place simultaneously, they cannot start on the same day (again except for procedures that can be fully completed online). It is assumed that the buyer does not waste time and commits to completing each remaining procedure without delay. If a procedure can be accelerated for an additional cost, the fastest legal procedure available and used by the majority of property owners is chosen. It is assumed that the parties involved are aware of all requirements and their sequence from the beginning. Time spent on gathering information is not considered. If time estimates differ among sources, the median reported value is used.
    		 World Bank Ease of Doing Business National 2020 7
    Cost to register residential property
    i
    The total cost to register residential property as a percentage of the value of the property. Assumptions about the sellers property: Is fully owned by the seller. Has no mortgages attached and has been under the same ownership for the past 10 years. Is registered in the land registry or cadastre, or both, and is free of title disputes. Is located in an urban residential zone and no rezoning is required. The property, consisting of land and a dwelling, will be transferred in its entirety. The dwelling is in good condition, complies with all safety standards, building codes and other legal requirements. The property will not be subject to renovations or additional construction following the purchase. Has no trees, natural water sources, natural reserves or historical monuments of any kind. Will not be used for special purposes, and no special permits are required. Has no occupants, and no other party holds a legal interest in it. Assumptions about procedures: A procedure is defined as any interaction of the buyer, the seller or their agents (if an agent is legally or in practice required) with external parties, including government agencies, inspectors, public notaries, architects, surveyors, among others. Interactions between company officers and employees are not considered. All procedures that are legally or in practice required for registering property are recorded, even if they may be avoided in exceptional cases. Each electronic procedure is counted as a separate procedure. Payment of capital gains tax can be counted as a separate procedure. If a procedure can be accelerated legally for an additional cost, the fastest procedure is chosen if that option is used by the majority of property owners. Although the buyer may use lawyers or other professionals where necessary in the registration process, it is assumed that the buyer does not employ an outside facilitator in the registration process unless legally or in practice required to do so. Assumptions about time: Time is recorded in calendar days. The measure captures the median duration that property lawyers, notaries or registry officials indicate is necessary to complete a procedure. It is assumed that the minimum time required for each procedure is one day, except for procedures that can be fully completed online, for which the time required is recorded as half a day. Although procedures may take place simultaneously, they cannot start on the same day (again except for procedures that can be fully completed online). It is assumed that the buyer does not waste time and commits to completing each remaining procedure without delay. If a procedure can be accelerated for an additional cost, the fastest legal procedure available and used by the majority of property owners is chosen. It is assumed that the parties involved are aware of all requirements and their sequence from the beginning. Time spent on gathering information is not considered. If time estimates differ among sources, the median reported value is used. Assumptions about the cost of the property: Cost is recorded as a percentage of the property value, assumed to be equivalent to 50 times income per capita. Only official costs required by law are recorded, including fees, transfer taxes, stamp duties and any other payment to the property registry, notaries, public agencies or lawyers. Other taxes, such as capital gains tax or value added tax (VAT), are excluded from the cost measure. However, in economies where transfer tax can be substituted by VAT, transfer tax will be recorded instead. Both costs borne by the buyer and the seller are included. If cost estimates differ among sources, the median reported value is used.
    		 World Bank Ease of Doing Business National 2020 10.00%
    World Bank DBI transparency of information index ranking: Africa
    i
    The rank of the country's score on the World Bank's transparency of information index within Africa. The transparency of information index has 10 components: (1) Whether information on land ownership is made publicly available. A score of 1 is assigned if information on land ownership is accessible by anyone; 0 if access is restricted. (2) Whether the list of documents required for completing all types of property transactions is made easily available to the public. A score of 0.5 is assigned if the list of documents is easily accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (3) Whether the fee schedule for completing all types of property transactions is made easily available to the public. A score of 0.5 is assigned if the fee schedule is easily accessible online or on a public board free of charge; 0 if it is not made available to the public or if it can be obtained only in person. (4) Whether the immovable property agency formally specifies the time frame to deliver a legally binding document proving property ownership. A score of 0.5 is assigned if such service standard is accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (5) Whether there is a specific and independent mechanism for filing complaints about a problem that occurred at the agency in charge of immovable property registration. A score of 1 is assigned if there is a specific and independent mechanism for filing a complaint; 0 if there is only a general mechanism or no mechanism. (6) Whether there are publicly available official statistics tracking the number of transactions at the immovable property registration agency in the largest business city. A score of 0.5 is assigned if statistics are published about property transfers in the largest business city in the past calendar year at the latest on May 1st of the following year; 0 if no such statistics are made publicly available. (7) Whether maps of land plots are made publicly available. A score of 0.5 is assigned if cadastral plans are accessible by anyone; 0 if access is restricted. (8) Whether the fee schedule for accessing cadastral plans is made easily available to the public. A score of 0.5 is assigned if the fee schedule is easily accessible online or on a public board free of charge; 0 if it is not made available to the public or if it can be obtained only in person. (9) Whether the mapping agency formally specifies the time frame to deliver an updated cadastral plan. A score of 0.5 is assigned if the service standard is accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (10) Whether there is a specific and independent mechanism for filing complaints about a problem that occurred at the mapping agency. A score of 0.5 is assigned if there is a specific and independent mechanism for filing a complaint; 0 if there is only a general mechanism or no mechanism. The index ranges from 0 to 6, with higher values indicating greater transparency in the land administration system.
    		 World Bank Ease of Doing Business Indicators National 2020 3 out of 54
    World Bank DBI transparency of information index ranking: Global
    i
    The global rank of the country's score on the World Bank's transparency of information index. The transparency of information index has 10 components: (1) Whether information on land ownership is made publicly available. A score of 1 is assigned if information on land ownership is accessible by anyone; 0 if access is restricted. (2) Whether the list of documents required for completing all types of property transactions is made easily available to the public. A score of 0.5 is assigned if the list of documents is easily accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (3) Whether the fee schedule for completing all types of property transactions is made easily available to the public. A score of 0.5 is assigned if the fee schedule is easily accessible online or on a public board free of charge; 0 if it is not made available to the public or if it can be obtained only in person. (4) Whether the immovable property agency formally specifies the time frame to deliver a legally binding document proving property ownership. A score of 0.5 is assigned if such service standard is accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (5) Whether there is a specific and independent mechanism for filing complaints about a problem that occurred at the agency in charge of immovable property registration. A score of 1 is assigned if there is a specific and independent mechanism for filing a complaint; 0 if there is only a general mechanism or no mechanism. (6) Whether there are publicly available official statistics tracking the number of transactions at the immovable property registration agency in the largest business city. A score of 0.5 is assigned if statistics are published about property transfers in the largest business city in the past calendar year at the latest on May 1st of the following year; 0 if no such statistics are made publicly available. (7) Whether maps of land plots are made publicly available. A score of 0.5 is assigned if cadastral plans are accessible by anyone; 0 if access is restricted. (8) Whether the fee schedule for accessing cadastral plans is made easily available to the public. A score of 0.5 is assigned if the fee schedule is easily accessible online or on a public board free of charge; 0 if it is not made available to the public or if it can be obtained only in person. (9) Whether the mapping agency formally specifies the time frame to deliver an updated cadastral plan. A score of 0.5 is assigned if the service standard is accessible online or on a public board; 0 if it is not made available to the public or if it can be obtained only in person. (10) Whether there is a specific and independent mechanism for filing complaints about a problem that occurred at the mapping agency. A score of 0.5 is assigned if there is a specific and independent mechanism for filing a complaint; 0 if there is only a general mechanism or no mechanism. The index ranges from 0 to 6, with higher values indicating greater transparency in the land administration system.
    		 World Bank Ease of Doing Business Indicators National 2020 37 out of 209
    % of residential development projects where developers are paying for bulk infrastructure or the building of roads
    i
    The share of site-based residential development projects in urban areas that are currently ongoing and have not yet been completed where the developer has had to provide bulk infrastructure or build roads. This indicator does not include projects where construction occurred on multiple individual plots in an existing community. Bulk infrastructure includes the provision of electrical and water mains connections to a site/plot. Road building includes all roads built to connect to a municipal roadway.
    		 Marchal Real Estate Developers; Marchal Real Estate Developers Marchal Real Estate Developers 2020 100.00%
    % of households without access to improved drinking water services
    i
    The share of households without access to improved drinking water services. According to DHS 7, these include: piped into dwelling piped to yard/plot; public tap/standpipe; piped to neighbour; tube well or borehole; protected well; protected spring; rainwater; tanker truck, cart with small tank; bottled water
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 14.31%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 1.17%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 17.79%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 2.37%
    % of households without access to improved sanitation services
    i
    The share of households without access to an improved sanitation facility. According to DHS 7, these include: flush - to piped sewer system; flush - to septic tank; flush - to pit latrine; flush - don't know where; pit latrine - ventilated improved pit (VIP); pit latrine - with slab; composting toilet
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 13.13%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 1.12%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 15.65%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 3.69%
    % of households without access to electricity
    i
    The share of households without access to electricity in their dwelling.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 49.24%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 2.79%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 45.82%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 9.58%
    % of households living in dwellings built using durable building materials (walls and roof) with inadequate services
    i
    The share of households living in dwellings where the main material of the walls and roof are finished, but the household does not have access to improved water services, improved sanitation facilities, or electricity. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. In DHS 7, finished wall materials included: CEMENT; STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT; ROOFING SHINGLES. According to DHS 7, improved water services include: piped into dwelling piped to yard/plot; public tap/standpipe; piped to neighbour; tube well or borehole; protected well; protected spring; rainwater; tanker truck, cart with small tank; bottled water. According to DHS 7, improved sanitation facilities include: flush - to piped sewer system; flush - to septic tank; flush - to pit latrine; flush - don't know where; pit latrine - ventilated improved pit (VIP); pit latrine - with slab; composting toilet.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 0.00%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 0.00%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 17.59%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 1.76%
    Transport as a % of household expenditure
    i
    Expenditure on transport as a share of total household expenditure.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 3.58%
    National Institute of Statistics Rwanda (NISR) Kigali 2016 8.26%
    National Institute of Statistics Rwanda (NISR) National 2016 3.69%
    National Institute of Statistics Rwanda (NISR) Urban 2016 6.85%
    World Bank DBI reliability of infrastructure index ranking: Africa
    i
    The rank of the country's score on the World Bank's reliability of infrastructure index within Africa. The reliability of infrastructure index has six components: (1) In what format land title certificates are kept at the immovable property registry of the largest business city of the economy. A score of 2 is assigned if the majority of land title certificates are fully digital; 1 if scanned; 0 if kept in paper format. (2) Whether there is a comprehensive and functional electronic database for checking all encumbrances, caveats, charges or privileges affecting a registered propertys encumbrances. A score of 1 is assigned if yes; 0 if no. (3) In what format cadastral plans are kept at the mapping agency of the largest business city of the economy. A score of 2 is assigned if the majority of cadastral plans are fully digital; 1 if scanned; 0 if kept in paper format. (4) Whether there is a geographic information system (a fully digital geographic representation of the land plot) an electronic database for recording boundaries, checking plans and providing cadastral information. A score of 1 is assigned if yes; 0 if no. (5) Whether the land ownership registry and mapping agency are linked. A score of 1 is assigned if information about land ownership and maps is kept in a single database or in linked databases; 0 if there is no connection between different databases. (6) How immovable property is identified. A score of 1 is assigned if both the immovable property registry and the mapping agency use the same identification number for properties; 0 if there are multiple identiers. The index ranges from 0 to 8, with higher values indicating a higher quality of infrastructure for ensuring the reliability of information on property titles and boundaries.
    		 World Bank Ease of Doing Business Indicators National 2020 1 out of 54
    World Bank DBI reliability of infrastructure index ranking: Global
    i
    The global rank of the country's score on the World Bank's reliability of infrastructure index. The reliability of infrastructure index has six components: (1) In what format land title certificates are kept at the immovable property registry of the largest business city of the economy. A score of 2 is assigned if the majority of land title certificates are fully digital; 1 if scanned; 0 if kept in paper format. (2) Whether there is a comprehensive and functional electronic database for checking all encumbrances, caveats, charges or privileges affecting a registered propertys encumbrances. A score of 1 is assigned if yes; 0 if no. (3) In what format cadastral plans are kept at the mapping agency of the largest business city of the economy. A score of 2 is assigned if the majority of cadastral plans are fully digital; 1 if scanned; 0 if kept in paper format. (4) Whether there is a geographic information system (a fully digital geographic representation of the land plot) an electronic database for recording boundaries, checking plans and providing cadastral information. A score of 1 is assigned if yes; 0 if no. (5) Whether the land ownership registry and mapping agency are linked. A score of 1 is assigned if information about land ownership and maps is kept in a single database or in linked databases; 0 if there is no connection between different databases. (6) How immovable property is identified. A score of 1 is assigned if both the immovable property registry and the mapping agency use the same identification number for properties; 0 if there are multiple identiers. The index ranges from 0 to 8, with higher values indicating a higher quality of infrastructure for ensuring the reliability of information on property titles and boundaries.
    		 World Bank Ease of Doing Business Indicators National 2020 28 out of 209

    Recent spikes in COVID-19 infections in 2021 have worsened the already fragile housing supply value chain. In particular, the closure of land borders with Rwanda for both goods and people have placed strain on the building and construction sector as imported construction materials move across this border and have experienced large delays. In response the governments Rwanda Housing Finance Project, which promotes access the capital market development, is undergoing a restructure to include the provision of infrastructure for affordable housing development projects, boosting supply under the Government of Rwanda s proposed COVID-19 response.

     

    Investment in Housing

    Despite current supply chain issues Rwanda s underdeveloped housing finance sector provides an opportunity for investors, with some lenders explicitly noting the investment interest of Rwandans in the diaspora to build quality homes back home. As Rwanda grows its formal residential construction industry these will be very important investment targets. In alignment easing access to affordable housing finance is a major priority for the Government of Rwanda. In the lending portfolio of the Development Bank of Rwanda, housing and infrastructure make up the biggest portion of the bank s lending portfolio, accounting for FRw48 billion (US$48.7 million) .

    Indicator Data Source Aggregation Year Data Quality Data Accessibility Value
    Size of the cheapest, newly built dwelling by a formal developer / contractor in an urban area in square meters
    i
    The size of the cheapest, newly built dwelling by a formal developer / contractor in an urban area in square meters.
    		 Marchal Real Estate Developers Marchal Real Estate Developers 2020 108m2
    Number of people per sleeping room in formal dwellings
    i
    The number of people per sleeping room in formal dwellings. Sleeping rooms exclude kitchens, bathrooms, and garages. Formal dwellings are defined as dwellings where the main material used for the walls and roof of the dwelling are finished. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. In DHS 7, finished wall materials included: CEMENT; STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT; ROOFING SHINGLES.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 2.02
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 1.45
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 1.64
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 1.47
    Number of people per sleeping room in informal dwellings
    i
    The number of people per sleeping room in informal dwellings. Sleeping rooms exclude kitchens, bathrooms, and garages. Informal dwellings are defined as dwellings where the main material used for the walls or roof of the dwelling are unfinished. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. In DHS 7, finished wall materials included: CEMENT; STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT; ROOFING SHINGLES.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 2.40
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 1.88
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 2.07
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 1.92
    Number of households living in dwellings built using durable building materials (walls and roof)
    i
    The number of households living in dwellings where the main material of the walls and roof are finished. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. In DHS 7, finished wall materials included: CEMENT STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT; ROOFING SHINGLES.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 122,660.54
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 162,534.00
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 339,084.42
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 192,854.22
    % of households living in dwellings built using durable building materials (walls and roof) that are overcrowded
    i
    The percentage of households living in dwellings where the main material of the walls and roof are finished and the dwelling is overcrowded. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. An overcrowded dwelling is one where there are more than two people per sleeping room. In DHS 7, finished wall materials included: CEMENT STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT; ROOFING SHINGLES.
    		 National Institute of Statistics Rwanda (NISR); National Institute of Statistics Rwanda (NISR) Bottom 40 2016 23.38%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 3.69%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 7.85%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 3.97%
    % of population living in slums, informal settlements, or inadequate dwellings
    i
    The percentage of the population that are part of households whose main dwelling meets the criteria of a slum/inadequate/informal dwelling. A household living in a slum/inadequate dwelling/informal settlement is defined as a group of individuals living under the same roof lacking one or more of the following conditions: access to improved water, access to improved sanitation, sufficient living area, and durability of housing. As per the UN definition, access to improved water requires the household to have access to: Piped connection to house or plot OR Public stand pipe serving no more than 5 households OR Bore hole OR Protected dug well OR Protected spring OR Rain water collection OR Bottle water (new). As per the UN definition, access to improved sanitation requires the household to have access to: Direct connection to public sewer OR Direct connection to septic tank OR Poor flush latrine OR Ventilated improved pit latrine OR Pit latrine with slab (new). The sufficient living area requirement requires there to be less than 4 people per habitable room in the household's dwelling. Habitable rooms exclude kitchens, bathrooms, and garages. Durability of housing requires the main material of the walls, floor, and roof of the household's dwelling to be finished. The definition of finished materials are as per the latest DHS questionnaire. Some of these may be country specific, but the major categories are standard. In DHS 7, finished floor materials included: PARQUET OR POLISHED WOOD; VINYL OR ASPHALT STRIPS; CERAMIC TILES; CEMENT; CARPET/RUG. In DHS 7, finished wall materials included: CEMENT; STONE WITH LIME/CEMENT; BRICKS; CEMENT BLOCKS; COVERED ADOBE; WOOD PLANKS/SHINGLES. In DHS 7, finished roof materials included: METAL/ZINC; WOOD; CALAMINE/CEMENT FIBER; CERAMIC TILES; CEMENT ROOFING SHINGLES.
    		 World Bank Urban 2018 42.10%
    Residential construction sector as a % of GDP Centre for Affordable Housing Finance in Africa (CAHF); Centre for Affordable Housing Finance in Africa (CAHF) National 2017 10.40%
    Residential rental sector as a % of GDP Centre for Affordable Housing Finance in Africa (CAHF); Centre for Affordable Housing Finance in Africa (CAHF) National 2017 1.08%
    Number of people employed in the residential construction sector
    i
    The number of people employed in the residential construction sector as per CAHF's HEVC methodology.
    		 Centre for Affordable Housing Finance in Africa (CAHF) National 2017 160,000
    Number of people employed in the residential rental sector
    i
    The number of people employed in the residential rental sector as per CAHF's HEVC methodology.
    		 Centre for Affordable Housing Finance in Africa (CAHF) National 2017 400
    Number of completed developer built dwellings that are accessible to the bottom-end of the market
    i
    The total dwellings completed in the last calendar year that are affordable to the bottom-end of the market. Completed dwellings are dwellings for which occupancy permits have been issued. From a buying persepctive, affordability for the bottom-end of the market requires the price of the dwellings to be such that urban bottom 60 households can afford to purchase it at market borrowing terms or the terms offered by the developer/accessible through the developer. From a rental perspective, affordability for the bottom-end of the market requires the rental price of the dwellings built by the developer / contractor to be such that the monthly rent-to-income ratio of the dwelling does not exceed 30% of urban bottom 60 household incomes.
    		 Marchal Real Estate Developers Marchal Real Estate Developers 2020 7
    Cost of standard 50kg bag of cement
    i
    The wholesale price of a standard 50kg bag of OPC cement in local currency units. The strength class of the OPC cement should be 32.5N.
    		 Local Building store in Kabeza Kigali Kigali 2020 12,000 R₣$13.34
    Total cost of all residential construction permit-related procedures
    i
    The total cost of all permits (in local currency units) required for the construction of a residential dwelling and declaring it fit for occupancy. Assumptions about the developer/contractor, dwelling to be built, and water & sewerage connections: The developer is 100% domestically and privately owned; has five owners, none of whom is a legal entity. Has a licensed architect and a licensed engineer, both registered with the local association of architects or engineers. The developer is not assumed to have any other employees who are technical or licensed experts, such as geological or topographical experts. The developer owns the land on which the dwelling will be built and will sell the dwelling upon its completion. The dwelling will be used for residential purposes only. The dwelling will have a single storey, above ground, with a total constructed area of approximately XX square meters. The single storey will be XX meters high and will be located on a land plot of approximately XX square meters that is 100% owned by the developer. The dwelling is valued at XX times income per capita. The dwelling will have complete architectural and technical plans prepared by a licensed architect. If preparation of the plans requires such steps as obtaining further documentation or getting prior approvals from external agencies, these are counted as procedures. The dwelling will take XX weeks to construct (excluding all delays due to administrative and regulatory requirements). The water and sewerage connections of the dwelling will be XX meters from the existing water source and sewer tap. If there is no water delivery infrastructure in the economy, a borehole will be dug. If there is no sewerage infrastructure, a septic tank in the smallest size available will be installed or built. The water connection for the dwelling will be XX inch in diameter and the sewerage connection for the dwelling will be XX inches in diameter.
    		 World Bank Ease of Doing Business National 2020 3,778,179 R₣$4,201.01

    Housing Finance

    In 2021 interest charged on residential mortgages remained unchanged at 16%, however the value of outstanding residential mortgages increased to FRw386 billion (US$391.8 million) in June 2021 , while non-performing loans on residential mortgages declined from 4.3% in 2020 to 3.7% the following year . Overall there are 16 licensed banks in Rwanda, all of which provide mortgage financing with a maximum loan term of up to 20 years.

     

     

    Access to Finance

    Financial access remains a challenge. Due to the impact of COVID-19, a rapid survey and assessment of Rwanda s banking sector showed that 55% of banks had tightened their lending criteria ³. In a country with less than 50 000 mortgages, it is likely that this further constrained access to finance for housing: see attached. Typical mortgage eligibility requirements include formal employment which excludes a significant segment of the workforce that is not salaried. In Rwanda, out of 6.76 million adults, only a third (2.14 million) are salaried workers. Finscope Rwanda 2020 finds that the majority of Rwandan homeowners financed their homes using savings. Only about a fifth of urban homeowners (19% of those who built their own housing and 22% of those who bought) used a bank loan to pay for their homes: Policy Framework.

    Indicator Data Source Aggregation Year Data Quality Data Accessibility Value
    Price of the cheapest, newly built dwelling by a formal developer or contractor
    i
    The price of the cheapest, newly built dwelling by a formal developer or contractor in local currency units.
    		 Marchal Real Estate Developers Kigali 2020 10,000,000 R₣$11,119.14
    Marchal Real Estate Developers National 2020 10,000,000 R₣$11,119.14
    Marchal Real Estate Developers Urban 2020 10,000,000 R₣$11,119.14
    % of households that own their dwelling
    i
    The share of households that claim to own their dwelling.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 43.74%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 63.75%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 86.15%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 69.18%
    % of households with female or joint ownership of a dwelling
    i
    The share of households where a female member of the households owns their main dwelling or any other dwelling either outright or jointly with someone else.
    		 National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Bottom 40 2020 49.32%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Kigali 2020 37.78%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) National 2020 64.73%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Urban 2020 45.79%
    % of households with female ownership of a dwelling
    i
    The share of households where a female member of the households owns their main dwelling or any other dwelling outright.
    		 National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Bottom 40 2020 7.98%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Kigali 2020 7.71%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) National 2020 10.62%
    National Institute of Statistics Rwanda (NISR), Demographic and Health Surveys Program (DHS) and Access to Finance Rwanda (AFR) Urban 2020 7.28%
    World Bank DBI equal access to property rights index ranking: Africa
    i
    The rank of the country's score on the World Bank's equal access to property rights index within Africa. The equal access to property rights index has two components: (1) Whether unmarried men and unmarried women have equal ownership rights to property. A score of -1 is assigned if there are unequal ownership rights to property; 0 if there is equality. (2) Whether married men and married women have equal ownership rights to property. A score of -1 is assigned if there are unequal ownership rights to property; 0 if there is equality. Ownership rights cover the ability to manage, control, administer, access, encumber, receive, dispose of and transfer property. Each restriction is considered if there is a differential treatment for men and women in the law considering the default marital property regime. For customary land systems, equality is assumed unless there is a general legal provision stating a differential treatment. The index ranges from -2 to 0, with higher values indicating greater inclusiveness of property rights.
    		 World Bank Ease of Doing Business Indicators National 2020 Tied first with 44 other countries
    World Bank DBI equal access to property rights index ranking: Global
    i
    The global rank of the country's score on the World Bank's equal access to property rights index. The equal access to property rights index has two components: (1) Whether unmarried men and unmarried women have equal ownership rights to property. A score of -1 is assigned if there are unequal ownership rights to property; 0 if there is equality. (2) Whether married men and married women have equal ownership rights to property. A score of -1 is assigned if there are unequal ownership rights to property; 0 if there is equality. Ownership rights cover the ability to manage, control, administer, access, encumber, receive, dispose of and transfer property. Each restriction is considered if there is a differential treatment for men and women in the law considering the default marital property regime. For customary land systems, equality is assumed unless there is a general legal provision stating a differential treatment. The index ranges from -2 to 0, with higher values indicating greater inclusiveness of property rights.
    		 World Bank Ease of Doing Business Indicators National 2020 Tied first with 194 other countries
    Typical rental price for cheapest, newly built dwelling by a formal developer or contractor
    i
    The typical rental price per month in local currency units for a dwelling that matches the price and size characteristics provided by the "Price of the cheapest, newly built dwelling by a formal developer / contractor in an urban area in square meters" and "Size of the cheapest, newly built dwelling by a formal developer / contractor in an urban area in square meters" indicators.
    		 Marchal Real Estate Developers Kigali 2020 150,000 R₣$166.79
    Marchal Real Estate Developers National 2020 150,000 R₣$166.79
    Marchal Real Estate Developers Urban 2020 150,000 R₣$166.79
    % of households that rent their dwelling
    i
    The share of households that claim to rent their dwelling.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 44.04%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Kigali 2020 34.06%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) National 2020 8.94%
    Access to Finance Rwanda (AFR) and National Institute of Statistics Rwanda (NISR) Urban 2020 27.91%
    Does government or industry publish any data on land prices in the main urban centre?
    i
    Asks whether or not there are any publications by government and/or indisutry that contain data on land prices in the main urban centre.
    		 Official Government Gazette No. Special of 08/11/2018 Kigali 2018 Official Government Gazette No. Special of 08/11/2018
    World Bank DBI land dispute resolution index ranking: Africa
    i
    The rank of the country's score on the World Bank's land dispute resolution index within Africa. The land dispute resolution index assesses the legal framework for immovable property registration and the accessibility of dispute resolution mechanisms. The index has eight components: (1) Whether the law requires that all property sale transactions be registered at the immovable property registry to make them opposable to third parties. A score of 1.5 is assigned if yes; 0 if no. (2) Whether the formal system of immovable property registration is subject to a guarantee. A score of 0.5 is assigned if either a state or private guarantee over immovable property registration is required by law; 0 if no such guarantee is required. (3) Whether there is a specific, out-of-court compensation mechanism to cover for losses incurred by parties who engaged in good faith in a property transaction based on erroneous information certified by the immovable property registry. A score of 0.5 is assigned if yes; 0 if no. (4) Whether the legal system requires verification of the legal validity of the documents (such as the sales, transfer or conveyance deed) necessary for a property transaction. A score of 0.5 is assigned if there is a review of legal validity, either by the registrar or by a professional (such as a notary or a lawyer); 0 if there is no review. (5) Whether the legal system requires verification of the identity of the parties to a property transaction. A score of 0.5 is assigned if there is verification of identity, either by the registrar or by a professional (such as a notary or a lawyer); 0 if there is no verification. (6) Whether there is a national database to verify the accuracy of government-issued identity documents. A score of 1 is assigned if such a national database is available; 0 if not. (7) How much time it takes to obtain a decision from a court of first instance (without an appeal) in a standard land dispute between two local businesses over tenure rights worth 50 times income per capita and located in the largest business city. A score of 3 is assigned if it takes less than one year; 2 if it takes between one and two years; 1 if it takes between two and three years; 0 if it takes more than three years. (8) Whether there are publicly available statistics on the number of land disputes at the economy level in the rst instance court. For the 11 economies where the data are also collected for the second largest business city, city-level statistics are taken into account. A score of 0.5 is assigned if statistics are published about land disputes in the economy in the past calendar year; 0 if no such statistics are made publicly available. The index ranges from 0 to 8, with higher values indicating greater protection against land disputes.
    		 World Bank Ease of Doing Business Indicators National 2020 1 out of 54
    World Bank DBI land dispute resolution index ranking: Global
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    The global rank of the country's score on the World Bank's land dispute resolution index. The land dispute resolution index assesses the legal framework for immovable property registration and the accessibility of dispute resolution mechanisms. The index has eight components: (1) Whether the law requires that all property sale transactions be registered at the immovable property registry to make them opposable to third parties. A score of 1.5 is assigned if yes; 0 if no. (2) Whether the formal system of immovable property registration is subject to a guarantee. A score of 0.5 is assigned if either a state or private guarantee over immovable property registration is required by law; 0 if no such guarantee is required. (3) Whether there is a specific, out-of-court compensation mechanism to cover for losses incurred by parties who engaged in good faith in a property transaction based on erroneous information certified by the immovable property registry. A score of 0.5 is assigned if yes; 0 if no. (4) Whether the legal system requires verification of the legal validity of the documents (such as the sales, transfer or conveyance deed) necessary for a property transaction. A score of 0.5 is assigned if there is a review of legal validity, either by the registrar or by a professional (such as a notary or a lawyer); 0 if there is no review. (5) Whether the legal system requires verification of the identity of the parties to a property transaction. A score of 0.5 is assigned if there is verification of identity, either by the registrar or by a professional (such as a notary or a lawyer); 0 if there is no verification. (6) Whether there is a national database to verify the accuracy of government-issued identity documents. A score of 1 is assigned if such a national database is available; 0 if not. (7) How much time it takes to obtain a decision from a court of first instance (without an appeal) in a standard land dispute between two local businesses over tenure rights worth 50 times income per capita and located in the largest business city. A score of 3 is assigned if it takes less than one year; 2 if it takes between one and two years; 1 if it takes between two and three years; 0 if it takes more than three years. (8) Whether there are publicly available statistics on the number of land disputes at the economy level in the rst instance court. For the 11 economies where the data are also collected for the second largest business city, city-level statistics are taken into account. A score of 0.5 is assigned if statistics are published about land disputes in the economy in the past calendar year; 0 if no such statistics are made publicly available. The index ranges from 0 to 8, with higher values indicating greater protection against land disputes.
    		 World Bank Ease of Doing Business Indicators National 2020 Tied first with 12 other countries
    Does an operational mortgage refinancing company exist?
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    Asks whether or not a mortgage refinance company exists and is operational in the country.
    		 National Bank of Rwanda (NBR) and International Finance Corporation (IFC) National 2021 No, click left arrow for details
    Value of formal housing finance issued per annum
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    The value of residential mortgages issued in a calendar year by licensed/registered residential mortgage providers in local currency units.
    		 National Bank of Rwanda (NBR) Kigali 2020 46,648,401,087 R₣$51,868,988.36
    National Bank of Rwanda (NBR) National 2020 56,856,282,087 R₣$63,219,269.37
    Value of formal housing finance outstanding
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    The value of outstanding residential mortgages in local currency units at the end of a calendar year for residential mortgages issued by licensed/registered residential mortgage providers.
    		 National Bank of Rwanda (NBR) National 2020 376,000,000,000 R₣$418,079,487.63
    Value of residential mortgages outstanding as % of GDP
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    The value of outstanding residential mortgages in local currency units at the end of a calendar year as a share of nominal GDP in local currency units.
    		 National Bank of Rwanda (NBR); World Bank National 2019 3.35%
    Mortgages as a % of properties
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    The total number of outstanding residential mortgages as a share of residential properties that have a title deed
    		 National Bank of Rwanda (NBR); Rwanda Land Management and Use Authority (RLMUA) National 2020 2.75%
    Prevailing residential mortgage rates
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    The minimum and maximum interest rates on residential mortgages.
    		 National Bank of Rwanda (NBR) National 2020 14% - 20%
    Maximum residential mortgage term
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    The maximum term in years on residential mortgages offered by registered/licensed mortgage providers.
    		 National Bank of Rwanda (NBR) National 2020 25 years
    Maximum LTV on a residential mortgage
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    The regulatory maximum residential mortgage loan-to-value (LTV) ratio set by the central bank. If there is no maximum residential mortgage LTV set by the central bank then use the maximum residential LTV accepted/offered by registered/licensed residential mortgage providers.
    		 National Bank of Rwanda (NBR) National 2019 80%
    Is there a regulatory cap on residential mortgage interest rates?
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    Asks whether or not regulation exists that places a ceiling on the residential mortgae interest rate.
    		 National Bank of Rwanda (NBR) National 2021 There is no regulatory cap on interest rates in Rwanda
    % of the adult population that borrowed formally
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    The share of individuals aged 15+ that borrowed from formal financial institutions. The definition of formal financial institution is as used by the Global Findex database encompasses all types of financial institutions that offer deposit, checking, and savings accountsincluding banks, credit unions, Microfinance institutions, and post officesand that fall under prudential regulation by a government body. The definition does not include nonbank financial institutions such as pension funds, retirement accounts, insurance companies, or equity holdings such as stocks.
    		 Global Findex Report 2017 National 2017 8.00%
    Income distribution thresholds
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    This indicator contains the income levels (in local currency units) that cuts the income distribution of the country's into deciles.
    		 National Institute of Statistics Rwanda (NISR) Bottom 40 2016 0 R₣$0