This document is  detailing the state of housing and housing finance of Afghanistan. The document mentions how Afghanistan’s particular history had an effect on the urbanization and flow of population within the country, and discusses how the country’s conflict-ridden past and rapid current growth in both income and population pose unique challenges for the housing and housing finance sectors. The financial sector has experienced growth since 2004; however, the housing finance has remained limited for various reasons many of which are detailed within the document. Policy options to improve the framework for housing finance are also discussed.