Real Estate Investor Magazine July/ Aug 2020 July 2020 | Page 19

AFFORDABLE HOUSING
“There is hope for a homeowner who has
been sitting at home on a dead property,
not making any sort of income.”
which according to Wikus Lategan constitutes to about
1%.
Robert McGaffin says, “Before Covid19 hit, we were
faced by employment issues as a country, and if you look
at housing as a percentage of the construction industry
as well as the role of construction in employment in
secondary industries, it’s massive. We are talking about
30-35% employment in the secondary sector in Cape
Town alone.”
Calgro’s Group Managing Director, Wikus Lategan
believes that the housing backlog is an opportunity for
government to hit two or more birds with one stone. By
addressing the housing deficiency and boosting the GDP
through the employment created in construction among
many other strategic boosts.
“Philosophically speaking, South Africa needs housing.
And if you look at what housing does from a more social
perspective, looking at employment, social household
arrangements etc, there is hope that the government
might spend more than expected on improving the
conditions of housing as well as the economy of the
country,” says Lategan.
With the influence and impact of the housing sector
in the economic development of the country, the
question of resilience from households and the housing
industry cannot be left unanswered, as it speaks greatly
to the contribution of this industry in the economic
development of the country post covid19.
While many see this as a time to improve the stability
of their businesses and income. Various stakeholders in
the real estate sector, believe that this is the time to work
on finding sustainable solutions that will strengthen the
ability of businesses and households to survive. It is time
to think out of the box and assess the real issues in South
Africa’s economy – with an earnest look at real estate and
it benefits. Starting with affordable accomodation.
SOURCES CAHF, BitProp, URERU, Concor,
Calgro M3 Holdings Ltd