Zolani Moya – Minister Sexwale Launches Affordable Housing Scheme

Photo – Shack Dwellers International – nextcity.org

Sabc.co.za. May, 9, 2013

The latest housing project by the department of Human Settlements aims to give low income earners an opportunity to own their houses.
This project targets people earning between R3500 and R15 000 per month for a housing subsidy of up to R87 000 and they can apply for finance for houses up to R300 000.
The first phase of the projects includes 430 units worth nearly R15 million in Port Elizabeth.

Thembinkosi Peter is the first South African to benefit from this housing project, he works for the South African Police force’s support services.
This project has enabled him to buy the two bedroomed house after struggling for years to acquire a bond. Peter lives with his wife and young daughter. “It’s a life changing experience and I am very happy about this thing that government has done, we have been renting, struggling getting places but it’s much better, I am going to have my own house with family”, says an ecstatic Peter.

The project targets people earning between R3500 and R15 000 per month for a housing subsidy of up to R87 000.
The subsidies for the beneficiaries is provided through the Finance Linked Individual Subsidy programme.

"The number of people living in urban areas will increase ever rapidly. Urbanization – the demographic transition from rural to urban – is associated with shifts from an agriculture-based economy to mass industry, technology and services. For the first time ever, the majority of the world’s population lives in a city, and this proportion continues to grow. A hundred years ago, 2 out of every 10 people lived in an urban area. By 1990, less than 40% of the global population lived in a city, but as of 2010, more than half of all people live in an urban area. By 2030, 6 out of every 10 people will be living in a city, and by 2050, this number will have increased to 7 out of 10 people. Currently, around half of all urban dwellers live in cities with between 100.000 – 500.000 people, and fewer than 10% of urban dwellers live in mega cities (defined by UN HABITAT as a city with a population of more than 10 million)."
– Quote: World Health Organization

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Zolani Moya – Minister Sexwale Launches Affordable Housing Scheme

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