Robust underserved market
There is a housing backlog of 2.3 million in South Africa alone and over 50 million for the continent.
Rapid urbanisation is causing informal settlements and accelerated growth in housing backlog. The natural response by communities has been to informally develop rental rooms in backyards.
Lack in access to capital
The lack in access to capital is constraining the development of backyard rooms. Over 1 billion USD in annual rent in South Africa generated from informal backyard rooms.