Determinants of homeownership in the condominium housing sites of Ambo, Ethiopia

Abstract

This study investigated the determinants of homeownership among the residents of the condominium housing sites of Ambo town, West Shewa Zone, Oromia Regional State, Ethiopia. It employed a descriptive research design, mainly using cross-sectional and correlational studies. A total sample of 230 respondents were selected through a random sampling method. The logistic regression model output showed that homeownership was determined by respondents’ gender, age, monthly income, saving practice, loan and credit services, marital status, and household size, while education level, occupation type, and land produced insignificant results. The chi-squared test and independent samples t test results also revealed significant associations and differences among and between different variables. The absence of land, lack of capital, bureaucratic system of land provision, limited loan and credit services, and high interest rates were also mentioned as determinant factors of homeownership. Moreover, mean values were computed to determine the adequacy and accessibility of basic amenities between the two sites. Therefore, the study recommends that the government should reformulate a profound housing policy that would improve the efficiency of the housing provision system and reduce the cost of homeownership.