Options Analysis for Housing Finance Framework in South Africa

Document for public comment: deadline 15 December 2012!

Earlier this month, on 7 and 8 November 2012, the Finance and Fiscal Commission held public hearings into housing finance in South Africa.  This meeting followed hearings held last year in October 2011, the report and presentations for which are available on the FFC website: http://www.ffc.co.za/index.php/media-a-events-interactive/public-hearings/housing-finance.html

At this year’s hearings, a paper commissioned by the FFC with support from the FinMark Trust’s Centre for Affordable Housing Finance in Africa was presented for discussion.  Public comment on this document, attached, is now welcomed.  The deadline for written responses is 15 December 2012.

The report is significant because it offers a shifting paradigm for housing financing in South Africa.  The argument involves three parts:

  1. South Africa must respond to the constitutional right to access to adequate housing on a progressive basis.
  2. Housing interventions by the State should be responsive to (a) the housing situation in which people find themselves; and (b) peoples’ affordability for housing
  3. Housing interventions by the State should address the housing challenge effectively while maximising hte sustainable participation of all players: the State, the private sector and individual households, for an equitable sharing of national revenue.

The overall objective of the approach is then to have a positive impact on households; to contribute towards integrated, inclusive and equitable cities; to impact on market distortions; and to contribute towards an effective housing market.

Please read the report and make your comments.  It is important.  Let us all use our experience to give government the direction it needs to create a housing finance framework in South Africa that works for all.  For more information, please feel free to contact Sabelo Mtantato at the FFC, email: Sabelo@ffc.co.za

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