announced a R950 million housing subsidy that will be paid out over the next three years., which aims to help first-time buyers to own a home.
Megan Sager, founder of Sustainable Solutions, says the real housing challenge is that the cost of new ownership stock is escalating rapidly, mostly due to the scarcity of suitable land and a failure to deliver bulk municipal infrastructure.“Compounding this, South Africans have high expectations about what they are willing to pay for. They want freehold homes with specifications above RDP housing, which already costs more than R300 000 to deliver,” said Sager.
However, the use of personal loans for purchasing a home may also have to do with the current legal situation regarding RDP homes.
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