The Western Cape Government said that an innovative affordable housing model is needed to protect public assets and prevent the illegal occupation of vacant units.
This after it secured approval to implement a new sales model for the remaining Mountain View affordable housing units in Mossel Bay.
Infrastructure MEC Tertuis Simmers said that the town faces one of the province’s biggest affordable housing shortages.
He said that the new Installment Sale Agreement model will allow qualifying beneficiaries to move into their homes while working towards full ownership through a structured, legally protected process backed by financial readiness programmes.
“Affordable housing must respond to the realities facing working families. If the market changes, government must innovate.”
Simmers said that the homeownership model will help families who do not qualify for traditional home loans, while ensuring the full value of public investment is recovered and reinvested in future affordable housing projects.
“This approved model protects taxpayers’ investment and more importantly gives more qualifying families a genuine opportunity to become homeowners.”
Camray Clarke
www.ewn.co.za