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A Journey Towards Owning a Home in Uganda
By Mark Kaheru, Public Information Officer, RSCE
On 2 June 2023, the United Nations Federal Credit Union (UNFCU) organized a Uganda Home Buying Symposium at the Regional Service Centre Entebbe (RSCE). The objective of the event was to inform UN staff in Uganda on various aspects of home purchasing within the country.
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UNFCU is a US-based financial cooperative founded by 13 United Nations staff in 1947. Today, the New Yorkbased not-for-profit institution provides services and products to more than 204,000 members throughout the world.
A dozen businesses from the Uganda property sector attended the symposium. Housing experts provided useful information and tips to staff at the base, guiding them towards frictionless property purchases.
Martha Ludigo Nyenje, Manager of UNFCU representative offices in Entebbe and Kampala
Martha Ludigo Nyenje, Manager of UNFCU representative offices in Entebbe and Kampala said ¨The financial education of UN staff is a key aspect of our organization. Buying a house can be very difficult, and it is important to be aware of all necessary steps.”
Patience Taaka, Research Analyst at Knight Frank Uganda, expounded on different housing standards, residential property management, market value, and rent. She told participating UN staff, “Probably the largest and most expensive purchase you will make in your lifetime - is the acquisition of your own home. Do your homework. Understand the investment, research the market, consult experts and do a comparative analysis before committing.”
Other important considerations were: to deal with reputable developers; and to keep close to a selected project. Make sure you understand the fine print of a contract and check the choice of building materials. It is also recommended staff understand a buyer’s right in case a project is not completed in time.
Staff who want more information on purchasing a house in Uganda may contact UNFCU through the following link: https://unfcu.org/Uganda-mortgages
Ms Ludigo Nyenje said “Our mortgage coordinator, Andrew Wasswa is available to provide necessary advice. He can connect interested UN staff to a wide array of housing experts in Uganda.¨
UNFCU offers its own mortgage facilities within the country, limited to completed homes in Kampala and Wakiso districts. It offers a range of products for the purchase of a home or the refinancing of an existing mortgage.
“Purchasing a home in Uganda, the ‘Pearl of Africa’, makes so much sense. The country is in the center of the continent, well connected, and beautiful! Above all, it has a vibrant housing market.” concluded Ms. Ludigo Nyenje.
