Home » Governance » City Okays Multiple Home Ownership

Harare City Council has approved the sale of houses built in Budiriro to multiple homeowners following a low uptake attributed to high costs and stringent requirements by the financial institution.

The houses were meant for low-income earners.

They cost between $21 000 and $27 000.

CABS gives a 10-year mortgage to qualifying beneficiaries who will pay at least $200 a month depending on the number of rooms. The smallest house comprises a bedroom, kitchen, sitting room, bathroom and toilet, while others have two or three bedrooms.

The phased project will have 3 102 houses upon completion.

The city’s corporate services and housing director Mrs Josephine Ncube told the Education, Health, Housing and Community Services committee recently that there was a very low uptake of the completed housing units for various reasons, including the economic environment, cost of the units and stringent financial requirements.

“Both CABS and the City of Harare had given concessionary measures to try and improve the uptake but still, there was not much improvement. The housing project had been targeted for low income, first home owners, but that was the group which did not afford the houses,” said Mrs Ncube.

“At a meeting held the previous week between council officials and CABS, it was agreed that council authority be sought to open the housing scheme to people who were not first time home owners to purchase the housing units,” read part of the committee’s minutes.

Source : The Herald