Housing in Southern Africa's March 2012 issue includes President Jacob Zuma's key housing provisions, which could offer some relief for entry level home owners.
The ‘Affordable Housing Report' conducted by Professor Francois Viruly has revealed it takes 1 200 to 1 500 to build a 40m² house. The study evaluates the impact of affordable housing developments on job creation, sustainability and growth.
Vela Steel's new innovative alternative building system, ekhaya, could offer a fast track alternative for those who fail to qualify for a government subsidised RDP house. The well insulated, thermally efficient, moveable housing unit is aimed at the informal sector.
The ‘Affordable Housing South Africa 2012' Summit, chaired by Housing in Southern Africa, attracted housing practitioners, government bodies and developers across the country. Delegates shared their experiences, and offered valuable insights into some of the challenges and solutions.
Zuma's housing plan
President Zuma's State of the Nation Address has offered some housing relief for entry level home owners, and end user finance. There are two key provisions that will impact dramatically on the housing sector, the first is the new provision of a housing subsidy up to R87 000, which will assist income earners of between R3 501 and R15 000, to obtain finance from an accredited bank. The second is the National Housing Finance Corporation will be rolling out government's R1 billion Mortgage Default Insurance scheme, to enable the banks to lend to buyers in the R3 501 to R15 000 income level.
Affordable Housing Report
The study found that it takes between 1 200 and 1 500 man-hours to build a 40m² house. The ‘Affordable housing: Creating jobs, growth and sustainable communities - Study', was conducted by a team under University of Cape Town associate professor Francois Viruly, to audit the social and economic impact of affordable housing developments. The10 month long research was commissioned by International Housing Solutions, a global private equity investor, which has financed projects with a combined total value of more than R7,8 billion.
Vel'ekhaya for informal housing
Vela Steel has recently introduced the Vel'ekhaya affordable, alternative building system for the informal housing sector. The well insulated, thermally efficient, moveable unit is aimed at shack dwellers. The product could offer a fast track alternative for those who fail to qualify for a government subsidised RDP house.
Facing affordability challenges
Affordable housing developers, industry stake holders, government's land acquisition agency, municipalities and financial sector investors attended the 2nd annual, Affordable Housing South Africa 2012, on February 28 and 29. Government's land acquisition agency, the HDA, is tasked with delivering well located land for the Department of Human Settlements as government has committed to upgrading 400 000 units by 2014.
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