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Building constructing is a capital intensive undertaking something which explains the problem of shortage of housing in developing countries. Owing to the financial and operational difficulties associated with building construction and ownership, even in developed countries the number of house owners is by far smaller than that of renters. In most developed economies, house ownership is relatively easier due to availability of difference sources of external and the general high level of individual income for financing housing. Developed countries have well established primary and secondary mortgage markets which pool funds for property developers. Availability of finance in lump sum gives a borrower a choice between buying an existing building and constructing a new one. The buying option saves the prospective house owner from hassles of having to endure the process of building construction which is normally time-consuming and fraught with inflation risk and other kinds of risks. Besides, developed countries are characterised by low inflation, low interest rates and relatively stable monetary policies all of which contribute to the stabilisation of prices in, among others, the construction sector.