Watch Georgie Davis, Reall’s Head of Communications & External Affairs, about how vital affordable housing is to the people who are most vulnerable to global shocks like Covid-19.
Why affordable housing is key
- The World Bank anticipates that 49 million people will be pushed into extreme poverty this year – 23 million in sub-Saharan Africa and 16 million in South Asia.
- The United Nations Development Programme (UNDP) estimates income losses exceeding $220 billion in developing countries.
- Advice to safeguard against Covid-19 centres on social distancing, hand washing and isolation, but this won’t work for the 1.2 billion people currently living without adequate shelter globally.
- 50 million homes are needed in Sub-Saharan Africa and 70 million in South Asia – 90% of the entire urban growth this decade is set to occur in Africa and Asia.
- Reall estimates that building housing at scale represents an untapped £14 trillion marketplace – and every house built creates five direct jobs and opens up significant supply chains.
- It also opens opportunities for the UK – creating the conditions for commerce to flourish and strengthen UK trade and investment opportunities around the world.
- This is an unprecedented opportunity to build back better, with climate smart housing – and greening a whole housing value chain.
Ms Davis says, “Housing is healthcare – and the need is great.”