Real Estate Investor Magazine South Africa July/August 2019 | Page 16

COVER STORY
Affordable
housing
Opportunity for economic development
BY ISHANI CHETTY
W
ith the global population on the rise and economic inequality
plaguing many parts of the world, affordable housing is becoming
a necessity. South Africa’s housing crisis has been impacted by a
‘triple threat’ – rapid growth in population, growing financial inequality
and the impact of Apartheid on the country’s spatial development, all
whihc have contributed to the states need for affordable housing.
The City of Johannesburg has provided a clear definition of inclusionary
housing within their framework. “Inclusionary Housing is a housing
programme, that through conditions attached to land use rights approvals,
requires private developers to dedicate a certain percentage of new housing
developments to low income and low middle income households, or to
households that may not otherwise afford to live in those developments.”
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JULY/AUGUST 2019 SA Real Estate Investor Magazine