Land reform highlights the lack of affordable housing and financing options
As well as a dearth of affordable housing stock, poor credit profiles hamper buyers, which is why banks and the government need to work together
In 2018, land redistribution rose to prominence as a point of debate in SA. Apart from highlighting the obvious need for urgent attention to be given to equitable land ownership, the focus on land redistribution has also served to throw a much-needed spotlight on many other challenges still plague SA’s formal housing markets. The stellar increase in the rate of urbanisation across the country continues to create massive demand for decent housing opportunities. While the government has made some inroads into addressing this requirement, the supply of well-located, zoned and serviced land, with suitable top structures and acceptable amenities, continues to significantly lag behind the fast-growing demand. In fact, it is estimated that SA currently faces a housing delivery backlog of more than 3-million units. The government’s response has been significant, with approximately 4-million units provided over the past 24 years, however, this has not been sufficient to address the backlog, ...
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