By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Africa Housing NewsAfrica Housing News
Notification Show More
Aa
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Reading: Johannesburg: Authorities Urge Developers To Devote 30% of New Residential Units To Social Housing
Share
Aa
Africa Housing NewsAfrica Housing News
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
Search
  • Home
  • News
  • Real Estate News
  • Nigeria Property News
  • Join Us
    • About Us
    • Contact Us
    • Join Us
Have an existing account? Sign In
Follow US
Africa Housing News > Blog > Nigeria Housing News > Johannesburg: Authorities Urge Developers To Devote 30% of New Residential Units To Social Housing
Johannesburg: Authorities Urge Developers To Devote 30% of New Residential Units To Social Housing
Nigeria Housing News

Johannesburg: Authorities Urge Developers To Devote 30% of New Residential Units To Social Housing

Fesadeb
Last updated: 2019/02/26 at 3:28 PM
Fesadeb Published February 26, 2019
Share
SHARE

The City of Johannesburg is to compel private-property developers to dedicate 30% of their new developments to low-income earners.

This applies to all developments to be built in areas within the jurisdiction of the City of Joburg’s municipality.

The city adopted their inclusionary housing policy last week and the isolation of low-income earners from the city will soon be a thing of the past, officials insist.

Click here to watch weekly episodes of Housing Development Programme on AIT

The goal of the policy is to do away with inequality by ensuring the integration of people who fall into different income brackets and different race groups into the city centre. This should have an ongoing effect into the inner city’s amenities and businesses as well as on job opportunities.

The policy will apply  to developers who will have developments of 20 residential units or more.

The policy does not limit the accommodation of low-income earners to specific areas only, which means that developers who take up projects in more affluent areas of the city will still be compelled to abide by the policy.

According to Moneyweb,some property developers were critical of the policy. The South African Property Owners Association lamented the city’s disregard of the concerns they had brought forth at the proposal of the policy last year.

Property developers have four options for inclusionary housing to choose from, including setting aside 30% of the entire development to social housing, finance-linked individual subsidy (Flisp), or capped rent.

With this last option, the city says rent will be capped at R21,000 (in 2018 prices) for people earning R7,000 a month or less.

The policy will be effective as of May 2019.

Source: timeslive.co.za

You Might Also Like

NAR Calls for Unified Global Response to Housing Crisis

Akure Community Orders Hundreds of GRA Landlords to Vacate, Citing Supreme Court Verdict

Ebonyi lawmakers push rent-control bill amid steep housing costs

Abuja’s Elite Estates Linked to Civil Servants, EFCC Reveals

Blaze Breaks Out at Mecca Hotel Housing Over 480 Nigerian Pilgrims

Join Our Whatsapp Group

Contact Image

Join Our WhatsApp Channel

Housing TV Africa is the First Housing News Television
in Africa on Startimes Channel 149 bringing you
Housing News, Mortgage News, Construction News etc

Fesadeb February 26, 2019 February 26, 2019
Share this Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

© Africa Housing News. All Rights Reserved 2024

Welcome Back!

Sign in to your account

Lost your password?