Housing Subsidies & Affordable Housing

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Move towards ‘catalytic’ housing projects

Cape Town – Housing provision will aim to create more spatially, socially, and economically integrated communities, according to the 2015/16 budget tabled in Parliament on Wednesday.

The human settlements department hoped that “mixed use catalytic projects” would put an end to isolated and segregated communities.

To this end, it expected to disburse R315m to eight metro municipalities over the medium-term for some 30 catalytic projects.

Provinces, municipalities, and certain public entities received transfers from the department to deliver housing.

Over the medium-term, transfers to provinces would increase to R59.1bn through the human settlements development grant. In the same period, transfers to metro municipalities would increase to R33.3bn through the urban settlements development grant.

According to the 2015 Budget Review document, the National Housing Finance Corporation disbursed R675m in loans for affordable housing development.

It also leveraged R2.2bn in co-financing from the private sector to support these housing projects.

The corporation targets households earning between R1 500 and R15 000 a month, who struggle to obtain bank loans.

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