| dc.description.abstract | The study sought to establish factors affecting the demand for Mortgage financing in Mombasa
County Kenya. The objectives of the study are: to establish how mortgage interest rates
influences demand for financing Mortgage Projects in Mombasa County, to establish how
availability of credit influences demand for financing Mortgage Projects in Mombasa County, to
examine how demographic trends influences demand for mortgage financing in Mombasa
County and to establish the extent to which property prices influences demand for mortgage
financing in Mombasa County. Target population of in the study comprised of all the registered
mortgage finance institutions, real estate firms and a mortgage brokerage company. The
Researcher selected a sample of 50 respondents from a target of population of 105 firms. Data
was analyzed qualitatively through content analysis. Quantitative data was first coded then
analyzed using SPSS (Statistical Package for Social sciences). A Kothari’ formula was used to
come up with a sample size of 50 respondents. The Researcher purposefully interviewed 14` key
informants from real estate/motgage firm and 23 respondents from banking sector managed to
fill out the questionnaire. Stratified sampling was used to select 50 respondents using Kothari
(2003) formula. Primary data was obtained from the copies of self-administered questionnaires
and the secondary data was obtained from reviews of Mortgage investment surveys, CBK reports
and Vision 2030 document Data was analyzed qualitatively through content analysis.
Quantitative data was first coded then analyzed using SPSS (Statistical Package for Social
Sciences) Version 20.0. After interpretation, the findings were presented in tables using
frequencies and percentages. Both primary and secondary data were be used. Both null and
alternative hypothesis were tested using the Chi-square formula and it was found that the
alternative hypothesis in each objective significant relationship with financing of mortgage
projects in Mombasa County. The study found out that mortgage interest rates, credit
availability, demographic trends and property prices have influence on demand for financing of
mortgage projects in Mombasa County. To the Government and policy makers, the study gives
insight on long term financial planning. To the academicians the study contributes to the existing
body of knowledge of financial literacy in Kenya. The study suggested the following areas for
further research: Establishment of an acceptable property Index in Kenya which is key to
development of the mortgage finance market, the role of pension schemes in encouraging the
development of mortgage projects and Factors influencing Policy implementation towards
mortgage interest rates. | en_US |
