Wednesday, November 21, 2012

Affordable Housing in Upmarket Umhlanga


My friend and colleague Sane Mlaba forwarded me an article that appeared on www.kbn.co.za informing us that construction will soon start on the first affordable housing development in upmarket Umhlanga near Durban.

There has been a lot of talk about this development in recent times with many in the area, not exactly overjoyed at the prospect. With homeowners on Umhlanga Ridge having invested large sums of monies for the privilege of living there, the fear is that “affordable housing” will bring property values down.

The article informs us that gap housing, or affordable housing, services the section of the market which does not qualify for free RDP homes but which also does not earn enough to qualify for a bond at the mid-to-higher end of the market and expands on the following headers:
  • Low to Middle Income Earners Make a Step Onto the Housing Ladder
  • Housing with a Focus on a Lifestyle Living Environment
  • Expanding South Africa’s Affordable Housing Footprint
I have uploaded the full article to our forum, have a read and feel free to comment. 

Ernest Roper
Membership Services Manager

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