Minister Simmers officiates sod turning ceremony of Deferred Ownership Project
The Provincial Minister of Infrastructure Tertuis Simmers officially turned the sod to mark the first phase of construction of the Deferred Ownership Project in Cape Agulhas. He was accompanied by the Cape Agulhas Executive Mayor Paul Swart, Deputy Mayor Raymond Ross and local ward Councillor Dirk Jantjies.
This project is envisaged to create 106 affordable housing opportunities, and is a first of its kind. It will include Deferred Ownership (ie. Rent to Own), for qualifying beneficiaries in Cape Agulhas. The project is aimed at prospective homebuyers earning between R3 501 and R22 000 per month, who would qualify for a subsidy from the Finance Linked Individual Subsidy Programme (FLISP), now known as “Help Me Buy A Home”.
Minister Simmers said: “I am still in awe, that in just over two years we have gone from having an idea to planning, and now finally we are turning the sod. As a province with the lowest levels of unemployment rate and amongst some of the world’s youngest population, many of our citizens don’t qualify for a fully state subsidized house. Therefore, through Deferred Ownership, we are ensuring that nobody is left out of the homeownership market. As we continue to commemorate Youth Month, today marks the dawn of a new era in the Affordable Housing and State Housing Subsidy market. This project will forever change the face of government subsidy schemes”.
The R55 million budgeted project, aimed to make affordable homes available for first time home buyers residing in the Bredasdorp and the broader Cape Agulhas municipal area. The Rent to Own qualifying applicants will be able to rent their future home for a period of 6 to 24 months, during which time they will be assisted to improve their credit score. Once their score has been improved, and applicants qualify for a mortgage bond through the FLISP subsidy, they will then be able to exercise the option to purchase the home they have been renting.
Qualifying Criteria for the Cape Agulhas project specifically include:
- Applicants need to reside in Bredasdorp or the broader Cape Agulhas Municipal Area
- To earn between R 3 501 to R 22 000 gross combined income per month
- Have not previously owned property
- Have not previously received a government housing subsidy
- Must be a South African citizen or have a permanent residency
- Be married, cohabitating or have a financial dependent
- For further enquiries regarding the Cape Agulhas project, visit:
Anele Matakane 021 461 0065 or 079 224 4090
Olivia Bell 021 461 0065
For more information on the Help Me Buy a Home / FLISP subsidy programme
“We look forward to launching many more projects of this nature across the province. This project is an innovation of the Western Cape Government and its partners, to ensure true empowerment of its citizens and provide a gateway into homeownership “concluded Simmers.