Transaction Support Centre
A fundamental principle of the housing asset is the ability to use it for trade – homeowners buy and sell property, investing their income and realizing equity while they address their changing housing needs over time. In this way, housing is much more than simply shelter. It is also a critical component of household wealth, and a focus of most households’ savings. South Africa has a vibrant residential property market, which in the past 23 years has developed to serve a growing proportion of our population.
Thus, CAHF and 71point4 recently piloted a Transaction Support Centre (TSC) in Khayelitsha, Cape Town, to facilitate formal residential property market transactions in the affordable housing market. The TSC coordinates and offers the range of critical services that enable households to transact formally in the residential resale market. In doing this, the Centre focuses on making the current regulatory and administrative framework for property transactions work efficiently, in terms of both time and cost for the buyers and sellers of residential property in Khayelitsha. The Centre also offers a local focal point through which existing service providers, including various non-profit or community-based organisations that offer services that support housing and housing finance market activities can offer their services.