The Khayelitsha housing development project comprises 1200 houses as phase one of the project – as well as the necessary infrastructure such as roads, electricity and water – which will be built over a number of years.

A market survey conducted recently by Linomtha Properties on the affordability levels of the Khayelitsha community will further assist us in determining the various housing typologies suitable for the community.

The Project includes the construction of a show village in the heart of the Khayelitsha Business District, which will give prospective buyers the unique opportunity to select their future homes on a proportional model of the entire development. Furthermore, homebuyers will be able to walk around the rooms, look at the different finishes and select the layout of their choice.

There is, however, another unique feature of this housing development project. First National Bank (FNB), will lend prospective buyers the required funds to purchase their houses, and won’t necessarily require them to secure the loan by way of a mortgage bond. When a prospective buyer applies for finance, his or her income will be assessed and a loan will be granted based on the individual’s income as opposed to his or her asset portfolio. This means that many people who were previously unable to qualify for a loan from a bank, will now be able to purchase a house in this housing development.

Please contact us for more information about the Khayelitsha housing development project.