HOUSING DEVELOPMENTS

AFFORDABLE HOUSING


Full and sectional title residential units aimed at home owners in the bonded market regulated by the FSC. Affordable housing describes open market bonded homes with a sales value deemed ‘affordable’ to those that have a median income of R15,000+ pm. This sector, where financial institutions provide end-user finance, typically comprises of unit sizes ranging from 40m² 2-bedroom units to 4-bedroom units in excess of 120m² in size, depending on clients' requirements and affordability.

Units in this market segment can be:


Freestanding
Full title units
Sectional title units
Multi-storey sectional title apartments

INCOME HOUSING SEGMENT TARGETS


Sales values from R450 000 to R700 000
Income earners R15 001+ per month
 

GAP HOUSING


Grassroots Affordable Peoples (GAP) Homes cater for people excluded from the subsidised programme, but with incomes too low to qualify for traditional affordable homes. Units in this market segment can be:

Freestanding
Full title units
Sectional title units
Multi-storey sectional title apartments

INCOME HOUSING SEGMENT TARGETS

Up to R450 000 (Subject to change)
Income earners up to R15000 per month
Then move on to the next market segment depending on income levels.
GRAPHS2

FLISP HOUSING

Finance Linked Individual Subsidy Programme (FLISP). The product was introduced when the affordability level of R3 500 pm income to qualify for subsidy housing was removed, allowing people previously disqualified based on income, to qualify for a partly subsidised home. FLISP housing denotes the market earning up to R15 000 pm. To qualify for the once-off state assisted subsidy, the prospective client will be required to qualify for a bond by one of the major financial institutions. The subsidy of between R10 000 up to R87 000, depending on monthly income, is subject to certain qualifying criteria as set out by the Department of Human Settlements.

INCOME HOUSING SEGMENT TARGETS

No specified amount. Depending on income & loan value granted.

Income earners up to R15 000 per month. Then move on to the next market segment depending on income levels.
 

SOCIAL HOUSING


Social Housing is a rental or co-operative housing option of subsidised rentals owned by Section 21 social housing institutions (SHI’s).

This rental option caters for income earners between R3 500 and R7 500 pm and excludes individual ownership.

(SUBSIDISED RENTALS) SEGMENT TARGETS

Provincial and institutional subsidy and private sector funding to the value of R300 000.

Income earners below R7 500 per month. Move to the next market segment if monthly earnings exceed R7 500.