February 2012

Housing in Southern Africa's February issue features government's R1billion Mortgage Default Insurance guarantee fund to assist Gap market housing for householders earning from R3 500 to R10 000 per month.

Absa DevCo has partnered with government on a 600ha sustainable integrated settlement in eMalahleni Municipality. The R3,5 billion project in Klarinet will provide rental, bonded and subsidised units.

Housing research by the FinMark Trust shows a staggering 38% of the residential housing market is owned by the poorest of the poor.

The Deeds Registry recorded sales of RDP subsidised houses traded for approximately R54 032 between 1994 and 2000, while in the period 2004 to 2009 prices rose, realising R160 849, per house.

High density city buildings are becoming attractive options for rental, social and affordable housing stakeholders as the latest landmark goes under the hammer.R1bn mortgage default fund 

Government's development finance institution, the National Housing Finance Corporation, has teamed up with First National Bank to implement a pilot project for the R1billion guarantee fund to support housing bonds in the R3 500 to R10 000 Gap market.

R3,5bn project for eMalahleni

Absa DevCo in partnership with government are developing a 600 ha sustainable integrated settlement in eMalahleni Municipality. The R3,5 billion project in Klarinet, in Witbank's industrial coal mining belt, north west of Duvha Park power plant, will house a population of approximately 40000 people. Phase One of the massive project will provide 4 224 housing opportunities, which includes 1 959 government subsidised units, 993 bonded, and 1 272 rental stock and sectional title units. So far 435 subsidised units have been built and a further 591 are under construction. Apart from housing opportunities, the integrated settlement will include all social amenitities such as schools, créches, clinics, a library, light industrial, retail and commercial space.

LANDMARK FOR SALE

High density city buildings are becoming attractive options for rental, social and affordable housing stakeholders. The sale of Jorissen Place, in Braamfontein's could become the latest landmark to undergo a transformation.

R1BN MORTGAGE DEFAULT FUND

Government's development finance institution, the National Housing Finance Corporation, has teamed up with First National Bank to implement a pilot project for the R1billion guarantee fund to support housing bonds in the R3 500 to R10 000 Gap market.

Houses for mahala - the poor own 38% of the residential market

This staggering figure was revealed in the Housing Subsidy Assets research sponsored by national government, FinMark Trust, Urban LandMark, South African Cities Network and the FB Heron Foundation. The poorest of the poor do indeed have a substantial asset base in terms of the six million registered property owners on the Deeds Registry. So far, government has delivered 2,94 million RDP housing units and serviced sites to beneficiaries, who earn less than R3 500 per month. The Deeds Registry recorded sales of RDP subsidised houses traded for approximately R54 032 between 1994 and 2000, while in the period 2004 to 2009 prices rose, realising R160 849, per house.