This report is a result of research conducted on the housing finance sector in Afghanistan in June-August, 2013, by Enclude (formerly ShoreBank International Ltd., SBI). The purpose of the report is to provide an update on the prior study: Housing Finance in Afghanistan: Challenges and Opportunities prepared for the International Finance Corporation (IFC) in 2007 by a combined team of SBI and CHF International (CHF). This assessment reexamines the constraints on the housing sector in Afghanistan and the new housing development programs and initiatives. It evaluates the state of housing finance as well as the regulatory environment that influence the housing market and the operations of the local financial institutions. To prepare the report, the Include team conducted field and desk research, interviewed public and private sector stakeholders based in Kabul, and analyzed relevant housing finance policies and other documents. A list of interviewed individuals and institutions is included in Annex 4 of this report.