Shaningwa expresses concern on slow sale of mass houses

03 Sep 2017 12:00pm
OSHAKATI, 03 SEP (NAMPA) – The Minister of Urban and Rural Development is concerned about the slow sale of houses completed under the national mass housing programme.
Sophia Shaningwa said in a statement availed to Nampa on Saturday, the sale of houses is slow because of the lengthy approval processes by some banks, while others do not want to finance houses in areas like Karasburg, Khorixas and Outjo.
She said this during the official hand over of 29 completed houses out of 53 earmarked for construction under the Mass Housing Development Programme in Opuwo in the Kunene Region on Friday.
The 29 houses were the first to be handed over to beneficiaries in Opuwo.
Shangingwa called on banks to be more forthcoming and to come up with measures that will ensure a fair balance between commercial interests and fiduciary responsibility and their expected development financing role.
“Our ultimate aim is not to just construct houses but for such houses to get into the hands of the needy by them being accessible and affordable to them,” she said.
The minister added that banks are crucial and are required to help first-time home buyers to acquire decent shelter by providing cost-effective mortgage financing.
“As a Government, we believe that the provision of affordable housing is one of the effective means to address poverty, because shelter is usually the most expensive item for a household,” she said.
Shaningwa further urged the public to honour their home loan repayment obligations to the Government and banks, so that other needy Namibians could be assisted with loans to acquire houses too.
She noted that the cost of living and prices of goods are high, and called on people to learn to live within their means.