Over the past 112 days under the Covid-19 lockdown, South Africans have spent an average of 70% to 80% of each day indoors. The home is not just a place for shelter, but our office, exercise space, playground, classroom and more. The home is our everything.
Housing development is a value driver to long-term nation building, but it must be well understood and planned for. For example, the perception of what drives value in property is not as linear as location. If this were true, then the people living in Alexandra and Sandton would command the same values for their homes. Rather, it’s about understanding that properties gain their intrinsic value from the ecosystem that develops around them — hospitals, schools, shopping centres and so forth.
There are several pragmatic steps to achieve this feat. For example, by expanding the government subsidy programmes, such as theThe difficulty with a well-intended subsidy scheme like this is that it has been disconnected from key stakeholders — residential developers and institutions — who can unlock the funding opportunity for citizens. This limits its ability to be formally a part of the established process of applying for a home loan through the banking system.
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