Government to Tackle Housing Shortage – Zuma

Government plans to set up a guarantee fund to incentivise the private banking and housing sector to develop new products to meet the country’s housing demand

Government plans to set up a guarantee fund of R1 billion to incentivise the private banking and housing sector to develop new products to meet the country’s housing demand.

President Jacob Zuma, in his state of the nation address in Parliament, said a key new initiative will be to accommodate people whose salaries are too high to get government subsidies, but who earn too little to qualify for a normal bank mortgage.

Zuma said the government is to set aside over 6,000 hectares of ‘well-located’ public land for low income and affordable housing.

To read the article titled, “Govt fund to tackle housing shortage,” click here.

Source: 
BuaNews

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